Texas regulator orders Ultra Mining to shut down operations

According to CoinDesk, the Texas Securities Commission (TSSB) and the Alabama Securities Commission (ASC) ordered Ultra Mining to shut down and stop its business. The state securities regulator filed an urgent lawsuit against the company and Laura Branch, alleging that the company promised to double the investor ’s funds, bragging that the price of Bitcoin would rise sharply, providing membership and cooperative projects, and claiming to the COVID-19 charity Donate, but there is no evidence. According to the order, the investment in computing power seems to constitute securities. TSSB accused the defendant of not registering these securities before selling them and making misleading statements about the returns.