This video,, can also be seen at execs forced to pay $2.7 million to settle SEC charges of cryptocurrency fraud. The organization claimed to operate a unique, decentralized bank via the blockchain.Along with technology start-ups, a number of non-core players have been entering the banking and financial. a range of cross-platform service offerings to its consumers globally. Some key.The SEC obtained an emergency asset freeze against AriseBank and filed charges against its co-founders Jared Rice and Stanley Ford, alleging that they sold securities claiming investments in AriseBank would bring “a first-of-its-kind decentralized bank offering a variety of consumer-facing banking products and services using more than 700 different virtual currencies.”DALLAS (1080 KRLD) – The head of a Dallas-based cryptocurrency bank has been arrested on federal fraud charges. jared rice sr. was the CEO of Dallas-based AriseBank, which marketed itself as a decentralized banking platform that also offered traditional banking services such as federally-insured loans and major-brand credit cards.Texas regulators have issued an unconditional cease and desist order to the self-described ‘cryptocurrency bank’ AriseBank on Friday, Jan. 26, ordering it to halt any services to the state’s.So, either this is an older press release, that got just got published, or the publicity around AriseBank is still ongoing, amidst all of the latest confusions and scam-alerts. AriseBank Announces First-Ever Acquisition Of Traditional Banks By A Crypto Platform Expects.The receiver for AriseBank, the Texas ICO issuer at the center of a securities fraud case, suspects the firm’s co-founders have not been entirely forthcoming with asset disclosures, documents show.The world’s first decentralized cryptocurrency bank, AriseBank, announced that they have reached an agreement with a federal deposit insurance corporation (FDIC) insured bank that has been in operation in the US for over a century. The acquisition, in addition to a partnership with Bitshares, will.Rice claimed that AriseBank was the world’s "first decentralized banking platform," but inflated claims about its credibility, stating that it would be able to offer Visa-supported credit and debit cards as well as accounts insured by the Federal Deposit Insurance Corporation (FDIC).The bank aims to disrupt the industry by introducing simple, accessible and affordable banking’ for the underserved community. It wants to create a platform that drives economic inclusion.