SEC Suspends Trading of Publicly Listed Bitcoin Firm

The U.S. Securities and Exchange Commission (SEC) has issued a temporary suspension of First Bitcoin Capital (Symbol: BITCF), a publicly-traded Bitcoin firm based out of Canada. The suspension began at 9:30am EDT on August 24 and will last until 11:59am on September 7. Citing the Securities Exchange Act of 1934, the SEC chose to suspend trading due to concerns about First Bitcoin Capital’s assets and capital structure. The statement reads:

"The Commission temporarily suspended trading in the securities of BITCF because of concerns regarding the accuracy and adequacy of publicly available information about the company including, among other things, the value of BITCF’s assets and its capital structure. This order was entered pursuant to Section 12(k) of the Exchange Act."