The SEC has announced that the interest of users and the protection of investors require a suspension of trading of the digital currency of the company the Crypto Company. This is the second time this year that this institution is taking on the companies listed in the stock exchange.
Suspension of all exchanges of crypto-currencies
As of December 20, 2017, until January 3, 2018, in accordance with article 12 of the SEC, the trading of the securities of The Crypto Company is suspended, confirms the regulatory authority. After this announcement, the concerns regarding the accuracy and adequacy of information on the market, the remuneration paid to the promotion of the company, and the statements of the commission on the plans of insiders, have raised too many unanswered questions for the regulator. In just one month, its stock has increased more than 2,500 %. According to Bloomberg, the chairman of the group holds shares estimated to be almost $ 4.2 billion.
Here is a video excerpt relaying this information :
The SEC continues its investigation and is seeking information on the transactions which have enabled this progress. If you consult the page of the company website, an error message appears. However, the platform seems to be active.
The second intervention of the SEC
This year, the SEC intervened for the second time. In August, another company based in Nevada, CIAO Group, has raised the interest of the regulator. This case concerned the activities of the company on the investment plans in the industry of telecommunications and projects of ICO. A result of the investigation conducted by the SEC, it has been decided to suspend the discussions of the group.
The growth of Bitcoin leads the regulators to keep close track of the companies specialized in the field. They must be in compliance to protect the interest of investors. This decision would surely encourage players in the sector to avoid the fraudulent practices.
Source : NewsBitcoin