TSSB vs. TEXITcoin
Transparency as far as attorney-client privilege allows. Every filing, every hearing date, every twist in the road — laid out in plain English. We're fighting this on the merits. We got this.
Where things stand right now
- Texas SOAH hearing is scheduled for August 17–20, 2026
- Mining Packages are not available in Texas until the Cease & Desist is lifted
- Avi Perry from Quinn Emanuel leads our legal team
- $973,000+ out of pocket so far on legal costs (and climbing)
- TEXITcoin network remains active — no disruption in service to community
Every filing, every hearing, every twist.
Newest at the top. Click through to read the actual filings on IPFS — pinned, immutable, no edits.
- 6 Apr 2026GLOVES OFF
Formal Answer Filed — Full Denial of All Allegations
We filed our official Answer to the TSSB's Notice of Hearing in SOAH Docket No. 312-26-14427, categorically denying every allegation in the Emergency Cease and Desist Order. Mining Packages aren't investment contracts under Howey. The TSSB does not even claim TEXITcoin itself is a security. Fraud allegations are legally and factually deficient — no specific false statements, no duty to disclose shown, zero allegation of misappropriated funds, no investor losses. This Answer lays the foundation for our Motion for Summary Adjudication and our defense at the August hearing.
Read the full response - 25 Mar 2026PARTIAL W
Hybrid Hearing Ordered — Partial Win on In-Person Request
Administrative Law Judge Katerina DeAngelo granted our motion in part: the four-day merits hearing (Aug 17–20, 2026) will be conducted live at SOAH in Austin, with full in-person attendance for our legal team, witnesses, and community. Remote Zoom attendance still available. Same order also granted pro hac vice for Avi Perry, Alex Rossmiller, and Kurt Wolfe.
Read the order - 18 Mar 2026MARK YOUR CALENDAR
Notice of Hearing
Official Notice of Hearing received from the Texas State Securities Board (SOAH Docket No. 312-26-14427). Formally schedules our contested-case hearing on the merits for August 17–20, 2026 starting 9:00 AM CT — to affirm, modify, or set aside the February 11 Emergency Cease and Desist Order.
Read the Notice - 17 Mar 2026TAILWIND
New SEC Crypto Guidance — Big Tailwind for Our Defense
SEC Interpretive Release No. 33-11412 is a landmark step toward regulatory clarity. It explicitly states that protocol mining on public proof-of-work networks — including pool operations and reward distribution — does not involve the offer and sale of securities under Howey. The TSSB's core premise (shoehorning Mining Packages into unregistered securities based on alleged passive returns) is now at odds with federal standards. Our team is integrating this directly into our hearing prep.
Read the SEC release - 16 Mar 2026GAME ON
Hearing Date Secured — Aug 17–20, 2026
SOAH issued an Order Scheduling Hearing on the Merits in Docket No. 312-26-14427, setting the contested case hearing for August 17–20, 2026, starting 9:00 AM CT. Though Zoom was offered, we elected to attend in person. This multi-day proceeding gives us the full forum to present evidence, expert testimony, and legal arguments.
Read the scheduling order - 11 Mar 2026RECEIPTS
Our Basic Legal Framework
Now that we've consulted counsel and a blockchain/PoW mining specialist, here's the high-level framework: under Howey, our model fails at least two prongs — (1) no promise or guarantee of profits (returns are market-driven and variable based on network performance), and (2) any value in TEXITcoin comes from community usage and real-world adoption, not passive reliance on promoters' efforts. This isn't fraud or passive investment — it's active participation in a decentralized, mineable ecosystem.
- 11 Mar 2026BRAIN HIRED
First Expert Selected
We secured our first expert witness — a highly reputable specialist with deep expertise in blockchain, proof-of-work mining operations, mining pools, and the technical and economic realities of cryptocurrency ecosystems. Their job: make these often-confusing concepts clear and evidence-based for the ALJ.
- 25 Feb 2026STILL TEXAN
Keep Moving Forward — No Pivoting
Honest Money doesn't pivot. We refuse to abandon the U.S.-rooted mission or transform into just another overseas cloud mining project chasing hype. Price doesn't come from hype, influencers, or passive promises — value emerges from usage. Downtown Digital Dollars, fair & festival cashless payments, Layer 2 applications, and active merchant participation are priority #1.
- 24 Feb 2026THIN FILE
TSSB Evidence File Secured — and It's Thin
With the evidence file in hand and under review by Quinn Emanuel: no allegations of actual investor losses, no demonstration of imminent or ongoing irreparable injury, no claims of misuse or misappropriation, no Ponzi assertions, no specific proof of fraud, no identified injured parties or complainants. The order relies on structural interpretations — not concrete evidence of wrongdoing.
- 21 Feb 2026PLAY THE LONG GAME
10-Day Hearing Option Declined; Timeline Strategic
After consulting Avi Perry, we waived the accelerated 10-day hearing option. Avi's call was clear: rushing it would likely lose. Building a winning case requires time for strategy, research, evidence collection, expert witnesses, and comprehensive prep. We're prioritizing a well-prepared, evidence-driven hearing — not a premature setback.
- 20 Feb 2026PUNCHED BACK
TSSB Order Challenged; Hearing Requested
Quinn Emanuel formally submitted a hearing request to Deputy Securities Commissioner Cristi Ramón Ochoa. The filing asserts the Mining Packages don't qualify as securities under the Texas Securities Act, that the order's fraud allegations lack specific false statements, and that the order alleges 'immediate and irreparable public harm' without identifying any actual investor losses or injured parties.
Read the hearing request - 16 Feb 2026TIGERS HIRED
Quinn Emanuel Retained as Lead Counsel
We brought in Quinn Emanuel Urquhart & Sullivan LLP for their unmatched track record in high-stakes securities litigation and crypto enforcement. Leading the team: Partner Avi Perry, co-Chair of QE's Securities Litigation Group and former federal prosecutor who headed the DOJ's Market Integrity and Major Frauds Unit. Recent wins include dismissals of TSSB orders against digital asset projects (Apertum Foundation) by arguing tokens were not securities, plus landmark wins against the CFTC.
- 13 Feb 2026TIGER HUNT
The Search for Counsel Begins
We evaluated firms with deep experience in crypto and securities regulatory defense — particularly those who've successfully challenged similar enforcement actions involving Howey Test interpretations and state-level crypto orders (including against the TSSB itself). We wanted tigers, not settlers.
- 12 Feb 2026PAUSE BUTTON
mineTXC Mining Sales Halted Globally
Immediately following the TSSB's order, TEXITcoin, MineTXC, and Blockchain Mint halted all new Mining Package sales and recruitment — not only in Texas, but everywhere. The order specifically prohibits offering or selling unregistered securities in or from Texas, but we took a cautious, broad approach until clarity is achieved.
- 11 Feb 2026INCOMING
Texas State Securities Board Issues Cease & Desist
The TSSB issued Emergency Cease and Desist Order No. ENF-26-CDO-1893 against TEXITcoin, MineTXC, Blockchain Mint, and founder Robert J. (Bobby) Gray, alleging the Mining Packages constitute unregistered securities sold through a multi-level marketing structure. For 98 weeks prior, mineTXC operated as a community currency project in Texas without any prior regulatory incidents. We are fully complying while pursuing a robust legal strategy.
Stay tuned. We'll keep adding.
No spin, just the facts, our side of the story, and what's coming next. Bookmark this page — or subscribe at the bottom and we'll send updates straight to your inbox.