SEC Suspends Trading of Publicly Listed Bitcoin Firm

More regulation coming into the cryptocurrency space.


Ken 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

Account Executive

Zitara Technologies, Inc.

San Francisco, United States

Full Time

USD 120000 — USD 160000 yearly

Enterprise Business Development Manager

Chima

San Francisco, United States

Full Time

USD 50000 — USD 200000 yearly

Founding Software Engineer (Backend)

OpenPipe

Seattle, WA, United States

Full Time

USD 150000 — USD 250000 yearly

Outbound Account Executive (Remote)

Fathom

San Francisco, United States

Full Time

USD 120000 — USD 200000 yearly

Product Manager

SmartAsset

New York, United States

Full Time

USD 99000 — USD 175000 yearly

Senior Product Designer

Moonvalley

Toronto, Canada, United States

Full Time

USD 150000 — USD 200000 yearly

Senior Full Stack Software Engineer

Turing Labs Inc.

New York, United States

Full Time

USD 125000 — USD 210000 yearly

Technical Recruiter (Contract to Hire)

Pocket Worlds

Austin, TX, United States

Full Time

Salary Undisclosed

Senior Product Designer

Community Phone Company

Boston, United States

Full Time

USD 80000 — USD 140000 yearly

Senior Product Manager

Pulley

San Francisco, United States

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 - 2024 BEAMSTART. All Rights Reserved (Legal).