New Zealand’s Financial Markets Authority (FMA), has “strongly recommend[ed]” promotion of TexitCoin cease nationally.

Citing the Texas State Securities Board’s TexitCoin securities fraud cease and desist issued earlier this month, the FMA

strongly recommend[s] that all Texitcoin promoters cease any promotional activities in New Zealand as they are promoting high-risk products and services operated by overseas entities that are not protected under New Zealand law.

Based on preliminary analysis of TexitCoin, the FMA asserts;

Texitcoin’s mining packages may be considered financial products under New Zealand law, and the associated services may qualify as financial services.

These products and services may require Texitcoin to be registered and licensed. However, Texitcoin is neither registered nor licensed in New Zealand.

Promotion of unregistered securities is illegal under New Zealand’s financial laws.

The FMA’s February 24th recommendation cites TexitCoin, MineTXC, Blockchain Mint, associated websites and founder Robert J. Gray (aka Bobby Gray).

Pending conclusion of TexitCoin’s collapse, which BehindMLM began tracking in late December 2025, total investor losses remain unknown.

In the immediate aftermath of TSSB’s fraud warning, TexitCoin’s TXC token plummeted from over 75 cents to 24.6 cents. TXC ix currently trading at 19.1 cents.