TexitCoin has received a securities fraud cease and desist from the Texas State Securities Board (TSSB).
As per
TSSB’s February 11th TexitCoin fraud order
;
Respondent TEXITcoin, Respondent MineTXC, Respondent Mint, and Respondent Gray (hereinafter “Respondents”) are issuing passive investments in cryptocurrency mining referred to as packages (hereinafter referred to as “Mining Packages”), and they are representing that once investors purchase a package, investors have their”…seat on the rocket ship, and now you can simply sit back and enjoy the ride.”
Respondents are using a multi-level marketing network of sales agents to offer and sell the Mining Packages, and they are paying bonuses and commissions to these agents.
These sales agents are using social media and online media to offer the Mining Packages, recruit new sales agents, and direct potential investors to Respondents.
Respondents are engaging in illegal, fraudulent, deceptive, and/or misleading practices in connection with the offer of the Mining Packages to Texas residents.
TexitCoin
is an MLM crypto Ponzi run by Bobby Gray, aka Rob Gray and Robert J. Gray
TexitCoin sees consumers, most of which are believed to be US residents, pitched to invest in TXC token “mining packages”.
This is done on the promise of a passive return, paid out in TXC token. The Ponzi aspect of TexitCoin sees Gray and early investors cash out previously invested funds.
Meanwhile with nothing marketed or sold to retail customers, the MLM side of TexitCoin operates as a pyramid scheme.
From the TSSB;
The Mining Packages are securities as that term is defined in Section 4001.068 of the Securities Act
The Mining Packages have not been registered by qualification, notification coordination, and no permit has been granted for their sale in Texas.
Respondents have not been registered with the Securities Commissioner dealers or agents at any time material hereto.
Respondents are violating Section 4003.001 of the Securities Act by offering securities for sale in Texas at a time when the securities are not registered with or permitted by the Securities Commissioner.
Respondents are violating Section 4004.051 of the Securities Act by offering securities for sale in Texas without being registered pursuant to the provisions of Section 4004.051 of the Securities Act.
Respondents are engaging in fraud in connection with the offer for the sale of securities.
Respondents are making offers containing statements that are materially misleading or otherwise likely to deceive the public.
Respondents’ conduct, acts, and practices threaten immediate and irreparable public harm.
As of February 11th, TexitCoin and its promoters have been ordered to immediately cease and desist operations in Texas. This includes promotion of TexitCoin to US residents.
Texas state securities law is practically identical to federal US securities law. BehindMLM identified nationwide securities fraud in our
September 2025 TexitCoin revie
🤖 Quick Answer
What is the TexitCoin securities fraud cease and desist order?The Texas State Securities Board (TSSB) issued a cease and desist order on February 11th against TexitCoin, MineTXC, Mint, and an individual named Gray for offering unregistered securities in the form of cryptocurrency mining packages marketed as passive investments through a multi-level marketing network of sales agents.
What are TexitCoin Mining Packages?
TexitCoin Mining Packages are passive cryptocurrency mining investments offered by TexitCoin and affiliated entities. Investors purchase packages and are promised returns without active involvement, with promotional materials stating purchasers can "sit back and enjoy the ride." Texas regulators determined these packages constitute securities subject to state regulation.
How were TexitCoin Mining Packages marketed and sold?
The Mining Packages were distributed through a multi-level marketing
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