Meet the State Enforcers on the Frontline of Crypto Fraud Fight

When Joseph Rotunda, Texas’s lead securities law enforcer, first heard the term “ICO” a year ago, he thought it was just another acronym he’d have to memorize. Little did he know those three letters would become a major focus of his agency’s enforcement efforts.

Texas has emerged as the most active state in cracking down on alleged scams touting ICOs, short for initial coin offerings, as well as other securities violations involving cryptocurrencies.

Securities regulators in other states aren’t far behind. Many are devoting significant resources to investigating cryptocurrency fraud, state securities officials told Bloomberg Law in a series of ...