Nevada Regulators Issue Cease and Desist Order to Crypto Custodian

Nevada regulators have issued a cease and desist order against Fortress Trust, now operating as Elemental Financial Technologies Inc., on October 22nd. Court documents reveal the company is facing imminent bankruptcy due to a substantial disparity between its assets and liabilities. The Nevada regulatory body underscored in their order that Fortress’s limited liquidity makes it unable to meet client obligations.