SEC Suspends Trading of Publicly Listed Bitcoin Firm
The SEC is taking action against another publicly traded company alleged to have ties with the cryptocurrency industry.
Aug 24, 2017 at 2:35 p.m. UTC
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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:
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.
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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).
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