North Dakota Regulator Issues Cease and Desist Order Against Union Bank ICO Fraud18.39

The North Dakota Securities Department, responsible for the enforcement of the securities laws in the U.S. state, has issued a cease and desist order against Union Bank Payment Coin (UBPC) for allegedly promoting a fraudulent initial coin offering (ICO).

The financial watchdog accuses the firm of being a copycat of Liechtenstein-based Union Bank AG, which is a pioneer in the cryptocurrency space.

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