The U.S. Securities Regulatory Commission's regulatory sword points to the Nasdaq blockchain listed company Riot Blockchain or involves information disclosure issues

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2018-04-18 17:23 (UTC+8)

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Riot Blockchain, which was estimated to have soared as high as $40 a share in December, was down to $7.30 as of Tuesday.

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Riot Blockchain, which was estimated to have soared as high as $40 a share in December, was down to $7.30 as of Tuesday.

Shares of Nasdaq-listed Riot Blockchain surged last year after it announced a transition to cryptocurrency-related services. But now, the company has received a subpoena from the US Securities and Exchange Commission.

The Riot Blockchain company disclosed the matter in its annual report published on April 17, and the SEC requested some information from them, which also mentioned:

"As part of a review of the company's public filings, the SEC has inquired about the classification of certain assets of our company, as well as the number of assets of potential investment companies. Our company fully cooperates with the SEC's request."

It is not surprising that Riot Blockchain has been investigated by US securities regulators, because since January this year, the US Securities and Exchange Commission has begun to investigate blockchain listed companies. Jay Clayton, chairman of the committee, said at the time:

“The U.S. Securities and Exchange Commission is paying close attention to the information disclosure of blockchain listed companies, such as whether these listed companies have initiated business model transformation, whether they have used distributed ledger technology to achieve expected commitments, and whether information disclosure complies with the requirements of securities laws.”

Riot Blockchain, which was estimated to have soared as high as $40 a share in December last year, has fallen to $7.30 as of Tuesday, according to Google data -- and the company has been hit with several investor lawsuits .

At the end of last month, after acquiring a futures brokerage company, Riot Blockchain announced plans to launch a cryptocurrency and futures exchange in the United States, but the relevant plan information has not yet been announced.