The Texas securities watchdog has issued a cease and desist order against two alleged digital currency scams. In its order, the regulator claimed that the two have been directing investors to deposit principal for a fraudulent algorithmic digital currency trading. The Texas State Securities Board issued the cease and desist order against London-based Bitles Limited and its principal Janis Lacis, as well as Princeton, Texas-based C3 Data Services and its principal Edward Carter. Bitles has been luring investment into eight different \u201csaving plans,\u201d authorities said. It claims to use proprietary algorithmic trading software it refers to as Cryp-Spider AI Algo-Trading System. This system reportedly trades the digital currencies across different exchanges, generating 0.3% - 6% in daily returns. Additionally, as with most scams in recent months, Bitles also has a native token, the BTL token. According to the TSSB, the firm claims these tokens are utility tokens that will shoot up in value by as much as 60% per month. They assure the BTL holders that they will generate at least 30% per month from the tokens. Bitles is reportedly recruiting sales agents to recruit Texas investors. This recruitment reportedly requires the sales agents to attend a seven-day training program. After concluding this program, the agents purportedly expect to receive at least $10,000 per month through commissions, bonuses and awards, which include a villa in Dubai and a luxury yacht. However, according to the regulator, the offering is a fraud. Both companies are accused of concealing critical information from their investors. This includes information about key personnel, information relating to the trading software and business operations. In addition, the two firms aren\u2019t registered to operate or recruit sales agents in Texas. Joe Rotunda, the regulator\u2019s director of enforcement commented, \u201cThe price and market capitalization of cryptocurrencies has sharply increased over the previous year. Unfortunately, promoters of illegal crypto-get-rich-quick schemes are taking advantage of these changes to the market \u2013 leveraging widespread interest to peddle fraudulent products. Texans interested in purchasing securities tied to cryptocurrencies should be aware of considerable risks and deal only with issuers lawfully operating in Texas.\u201d The Texas regulator has stepped in on several occasions in the past to stop digital currency scams. They include Delta Crypt, AntPoolTop Mining, a so-called Bitcoin Pope, South African mega scam Mirror Trading International and more. Follow CoinGeek\u2019s Crypto Crime Cartel series, which delves into the stream of groups\u2014from BitMEX to Binance, Bitcoin.com, Blockstream, ShapeShift, Coinbase, Ripple and Ethereum\u2014who have co-opted the digital asset revolution and turned the industry into a minefield for na\u00efve (and even experienced) players in the market.