The Texas State Securities Board has been active in cryptocurrency regulation again this week, sending out an Emergency Cease and Desist Order on February 2nd to money-lending blockchain platform, DavorCoin. After Texas SSB served a similar Order on BitConnect in January, DavorCoin announced that it would be moving into the market gap offered by BitConnect\'s closure. 

The company invites investments in a cryptocurrency lending programme based on their DavorCoin (DAV) and promises to pay interest. The Securities Commissioner\'s complaints against the unregistered company include DavorCoin\'s representations that DAV is a new cryptocurrency set to rival Bitcoin and Ethereum, and that it is a form of digital currency that behaves like actual, physical cash. DavorCoin further state that their coins \"can be traded like stocks\" and that they could be used in the future in exchange for products and services.

The Cease and Desist Order says that DavorCoin is not registered to deal in securities and is acting fraudulently, based on DavorCoin\'s misrepresentation in concealing its identity, and refusing to state its place of business. The Order itself was served on an address in Scottsdale, Arizona, under the name \"Domains by Proxy LLC.\" DavorCoin apparently said that they could not divulge their business address \"due to tax and regulation risks,\" but claimed to be a collaboration of bankers, traders and engineers from EU countries.