The Texas State Securities Board (SSB) has issued a cease and desist order against BTCRUSH, a London-based bitcoin trading and cloud mining firm.

The regulator has alleged that the firm’s website contains a video that falsely depicts three mining farms – Maevrick, Hephaestus, and RebelPower.

“Although the BTCRUSH Website represents these videos depict the Maverick Farm, the Hephaestus Farm and the RebelPower Farm, they do not actually depict mining farms operated by Respondent BTCRUSH. Instead, Respondent BTCRUSH created these videos by manipulating stock footage available for sale on the internet,” the regulator noted.

It further said that the company is recruiting investors to act as sales agents, without verifying whether the sales agents are registered to sell securities in Texas or in any other jurisdiction. Furthermore, BTCRUSH itself has not been registered as a dealer with the Securities Commissioner.

The SSB further alleges that the company and its team – Jaylon Cross, Bruce Rodgerson, Robin Lozinski, Thomas A. Johnson – are “intentionally failing” to disclose sufficient information for investors, including their assets, liabilities, and capitalization. Furthermore, the respondents showing videos that falsely purport to depict the three mining farms constitute “the misrepresentation of a relevant fact.”