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Texas regulators order virtual casino to stop selling NFTs

04/14/2022

Less than a minute

2022.04.14 15:31

Texas regulators order virtual casino to stop selling NFTs

A virtual, Cyprus-registered casino Sand Vegas Casino Club faced an emergency cease and desist order from Texas and Alabama state securities regulators. The company is ordered to “stop a fraudulent investment scheme tied to metaverses”.

On April 13, the Texas State Securities Board reported issuing the order, accusing Sand Vegas Casino Club, Martin Schwarzberger and Finn Ruben Warnke of illegally offering nonfungible tokens (NFTs) to fund the development of virtual casinos in metaverses.

04/14/2022

Less than a minute

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