The securities Department North Dakota state during the operation Cryptosweep issued an order prohibiting the continuation of illegal activities of the Russian ICO project, which offered “potentially fraudulent and unregistered securities” under the guise of Union Bank token Coin Payment (UBPC), allegedly issued by the Liechtenstein Bank Union Bank AG. The ban applies to both the company and its employees, guides and agents.

Investigation the regulator found that the ICO project is fully copied some design elements of the website of the Bank, announced in August plans to issue its own cryptocurrency, and offered investors a product that was represented as the first in the world provided by a licensed Bank security token.

Commissioner of the Department Karen Tyler (Karen Tyler) confirmed that while the IP address of the web site of the present Union Bank is located in Liechtenstein, the fake was was a private person and refers to Russia.

We will remind that earlier in North Dakota for similar motives, has banned the activities of the companies Crystal Token, Life Cross Coin, Advertiza Holdings, BitConnect, Magma Foundation and Pension Rewards. A few days ago the Commission on securities and exchange Commission (SEC) has forced the ICO projects CarrierEQ Inc. (Airfox) and Paragon Coin Inc. to register their tokens as securities with the payment of a fine in the amount of $250 million, refunds to affected investors and providing to the controller periodic reports, not less frequently than once a year.