Financial regulators of North Dakota have ordered a dodgy Russian cryptocurrency company to cease and desist operations in the state, after discovering it had impersonated a bank in Liechtenstein to falsely market an initial coin offering (ICOs). In a statement released Monday, state securities chairman Karen Tyler explains how the scammers assumed the identity of Union Bank AG, using its reputation to issue and market a fake version of the banks’ proposed cryptocurrency. “[USPC] solicitation appears to be an attempt to fraudulently acquire funds through the exploitation of an announcement made by Union Bank AG, a fully licensed and regulated bank based in Liechtenstein,”…

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