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  • Financial regulator in the U.S., SEC, has taken action on Bitcoin Generation and suspended their trading.
  • Due to concerns about the accuracy and adequacy of information in the marketplace, said the SEC.

 

United States financial regulator, the Securities and Exchange Commission (SEC) has taken action and forced a temporary suspension of trading in the securities of crypto exchange Bitcoin Generation, which was announced by the government agency today – 29 April.

Detailed in the statement made from the SEC, they said that the suspension will be effective from 9:30pm EDT on April 29 until 11:59pm EDT on May 10.

SEC said:

 Due to concerns about the accuracy and adequacy of information in the marketplace, surrounding its outstanding common stock, promotional activities and the impact they had on the market, as well as the company’s current financial condition. The commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.