A cease-and-desist order against Union Bank Payment Coin

A cease-and-desist order against Union Bank Payment Coin

Karen Tyler, the North Dakota Securities Commissioner, has slashed the Union Bank Payment Coin and officials with a cease-and-desist order for promoting unauthorized and fraudulent securities in the form of ICO. The regulator quoted, “The Union Bank Payment Coin solicitation appears to be an attempt to fraudulently acquire funds through the exploitation of an announcement made by Union Bank AG.”

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