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US state filing against 3 platforms

A US state is taking action against three cryptocurrency, forex and share trading platforms which claim to be regulated on the Isle of Man.

The Texas State Securities Board has filed three cease and desist orders against Binary Trade Forex, FX Trades and IQTrade.

All three are said to operate from Texas, but claim they're regulated by the Isle of Man Gambling Supervision Company.

However, that claim isn't true, and they've been ordered to stop offering investment schemes.

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