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

Chief Executive Officer

Healthuno Healthcare India

Chennai, India (इंडिया)

Full Time

Salary Undisclosed

React Native Developer

SegWitz Sdn. Bhd.

Bandar Puteri Puchong, Malaysia

Full Time

MYR 4000 monthly

Affiliate Marketing Manager

Binance

Singapore

Full Time

SGD 2000 — SGD 2500 monthly

Senior Analyst, Product

Carsome

Petaling Jaya, Singapore

Full Time

Salary Undisclosed

Strategy and Growth Lead

Pluang

Jakarta, Indonesia

Full Time

Salary Undisclosed

3D Creative Designer

Nervape

Singapore , Singapore

Full Time

USD 4000 — USD 7000 monthly

Business Development Manager

Tourplus

Kuala Lumpur, Malaysia

Full Time

MYR 10000 — MYR 30000 monthly

Business Development Intern

BEAMSTART

Damansara Uptown, Malaysia

Internship

MYR 400 — MYR 500 monthly

HR Consultant/Recruiter

Fortune Cookie Wisdom Pte Ltd

Remote, Singapore

Contract / Freelance

Salary Undisclosed

Business Development Manager

Lumirous

Kuala Lumpur, Malaysia

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 news, events, and opportunities.

 

Download the Community App

Connect with the BEAMSTART Entrepreneurship Community from the palm of your hands. Connect with CEOs/Founders, Investors, Business Leaders, and Professionals. Download below to instantly form partnerships and discover opportunities:

PlayStore ButtonAppStore Button

© 2016 - 2022 BEAMSTART. All Rights Reserved (Legal).