SEC Suspends Trading of Publicly Listed Bitcoin Firm

More regulation coming into the cryptocurrency space.


Kenneth Ho

26 Aug, 2017

SEC Suspends Trading of Publicly Listed Bitcoin Firm | BEAMSTART News

- From our Sponsors -

The US Securities and Exchange Commission (SEC) has issued a temporary suspension on the shares of publicly traded bitcoin firm First Bitcoin Capital.

In a statement, the SEC said that the suspension, which began at 9:30 a.m. ET this morning, would last until at least 11:59am ET on September 7. First Bitcoin Capital's shares are traded over-the-counter, and prior to the suspension were trading at $1.79 apiece, according to data from Bloomberg.

The SEC said that it was moving to suspend trading because of concerns over the information published by First Bitcoin Capital, including the value of the assets it claims to possess.

The agency wrote in its suspension notice:

"The Commission temporarily suspended trading in the securities of BITCF because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of BITCF's assets and its capital structure. This order was entered pursuant to Section 12(k) of the Exchange Act."

According to its website, the Canada-based firm operates a number of cryptocurrency-related business lines, including a bitcoin exchange and a network of ATMs. First Bitcoin Capital did not immediately respond to a request for comment.

The move represents the second cryptocurrency-related suspension initiated by the SEC this month.

As CoinDesk previously reported, the agency issued a suspension on the shares of CIAO Group, an OTC-traded firm, over concerns about statements regarding an upcoming initial coin offering (ICO).

- From our Sponsors -

Latest Jobs

Senior Product Manager

GoSats

Karnataka,

Full Time

USD 1 yearly

Product Manager, Customer & Operations Platform

Gemnote

Full Time

USD 60000 — USD 120000 yearly

Senior Software Engineer, Research

Sully.ai

California,

Full Time

USD 175000 — USD 220000 yearly

Field Ops Support

Landeed

Karnataka,

Full Time

USD 240000 — USD 480000 yearly

Operations Intern

Cityfurnish

Haryana,

Internship

USD 5000 — USD 10000 yearly

Business & Revenue Operations

Metriport

California,

Full Time

USD 120000 — USD 160000 yearly

Manager, Clinical Operations

LunaJoy Health

Contract

USD 1500 — USD 2000 yearly

Member of Technical Staff, Backend

Vapi

California,

Full Time

USD 150000 — USD 300000 yearly

Head of Care Navigation (Series A Healthtech)

Craniometrix

New York,

Full Time

USD 160000 — USD 180000 yearly

Customer Care Associate

AptDeco

Full Time

Salary Undisclosed

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2026 BEAMSTART. All Rights Reserved (Legal).