United States:
SEC Taking Action Against Companies Hyping Blockchain-Related Trading
10 January 2018
Reed Smith
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The U.S. Securities and Exchange Commission
("SEC") is continuing to
increase its scrutiny of companies that might be taking advantage
of investor excitement for blockchain and cryptocurrency (ICO)
deals to inflate their share prices and raise funds. On
January 8, 2018, the SEC suspended trading in the securities of
Hong Kong-based UBI Blockchain Internet, Ltd.
("UBI Blockchain") through at
least January 22, 2018. This action follows the SEC's
suspension of trading in the securities of The Crypto Company
announced in December 2017 and three other blockchain-related
companies in the summer of 2017. Read the full report on our sister
site
The FinTech Update.
This article is presented for informational purposes only
and is not intended to constitute legal advice.
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