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The Texas State Securities Board issued an emergency cease and desist order to cloud mining company AWS Mining PTY LTD for selling unregistered securities, according to an official statement of the regulator.

As it was stated by the document, AWS Mining along with its multiple agents and Chief Marketing Officer Josiah Kostek have violated the Texas Securities Act by selling AWS’ unregistered cloud mining power securities and promising 200 percent return on investment (ROE).

AWS Mining PTY LTD is an Australia-based company which offers cloud mining services of digital coins to every size investor and is considered to be fraudulent due to its doubtful investment schemes and promises.

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