According to Foresight News, the Texas Securities Commission has issued a cease and desist order against Arkbit Capital for engaging in fraudulent cryptocurrency cloud mining activities. Arkbit falsely claimed to operate a data center in Arkansas for mining various cryptocurrencies. Securities Commissioner Travis J. Iles stated that Arkbit Capital and its affiliated entities were involved in fraudulent activities, including the use of deceptive images and video manipulation techniques to promote their investment plans. The Texas Securities Commission's action is part of a broader effort to regulate and monitor the cryptocurrency industry to protect investors from fraudulent schemes.