Crypto Regulatory Claims Push SEC to Suspend Trading in Public Firm
Cryptovest
Published Oct 23, 2018 11:37AM ET
Updated Oct 23, 2018 12:41PM ET
Crypto Regulatory Claims Push SEC to Suspend Trading in Public Firm
The United States Securities and Exchange Commission (SEC) has begun an investigation in alleged false crypto regulatory claims made by the public traded company American Retail Group, aka Simex Inc. The Commission has also halted trading of the firm’s securities for ten days on the OTC Markets venue, an SEC statement from Monday revealed.
The market regulator’s actions were provoked by two press releases from American Retail Group. In the first one, dating from August 16, the company claimed that it had signed a partnership with Prime Trust Company, “a private US trust company registered in the state of Nevada, providing SEC qualified custodian and escrow services, both for fiat money transactions and bitcoin, Ethereum and ERC20 tokens.”
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