THELOGICALINDIAN - The US Balance and Exchange Commission SEC took addition footfall astern from Bitcoin this morning by suspending all trading in balance of Bitcoin Generation BTGN the aboriginal publically traded cryptocurrency exchange
The suspension will booty abode from 9:30 AM EDT to 11:59 PM May 10. The SEC appear that this will be a acting abeyance of trading in the balance of Bitcoin Generation, a publically traded cryptocurrency barter from Bartlesville, Oklahoma.
Purportedly abaft the abeyance are key apropos about the accurateness and authority of advice BTGN has put in the marketplace. Specifically, the regulator credibility to accessible statements over the activity of a band BTGN allegedly acquired from a UK-based entity.
Moreover, the bulk of BTGN’s outstanding accepted banal and promotional action accept been alleged into question. The Securities and Exchange Commission is additionally anxious over the appulse that its promotional action has on the market. There are alike doubts over the abridgement of accessible advice apropos BTGN’s banking state.
Trade and Face Consequences, Says SEC
The SEC has fabricated it bright that any shareholder, -to-be purchaser, or broker-dealer should booty the above-mentioned apropos actual seriously. They should be acutely alert back reviewing the advice available, as able-bodied as any consecutive advice issued by the company.
Moreover, all brokers and dealers should accept that no citation should be entered into alike afterwards the abeyance is aerial unless it carefully complies with the accoutrement of Aphorism 15c2-11. Brokers and dealers who access quotations that breach the aphorism in any way will face “prompt administration action.”
More Anti-Bitcoin Attitude from Regulators
While the fate of Bitcoin ETFs still hangs in the antithesis and abounding cryptocurrency companies abide ambiguous about their futures, the SEC marks yet addition adverse activity adjoin Bitcoin.
In October of aftermost year, the U.S. regulator additionally abeyant balance trading at the American Retail Group, Inc. (ARGB) over apocryphal cryptocurrency-related claims.
What do you anticipate of the SEC’s abeyance of Bitcoin Generation? Let us apperceive your thoughts in the comments below!
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