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.[1] This action follows the SEC’s suspension of trading in the securities of The Crypto Company announced in December 2017[2] and three other blockchain-related companies in the summer of 2017.[3]
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