SEC suspends trading in company for making false crypto-related claims
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The SEC has ordered the suspension of trading for American Retail Group. American Retail Group falsely claimed that it had partnered with an SEC qualified crypto custodian that was 'under SEC regulations' and that the company was conducting an ICO that was 'officially registered in accordance [with] SEC requirements.' According to the Chief of the SEC Enforcement Division’s Cyber Unit, "The SEC does not endorse or qualify custodians for cryptocurrency, and investors should use vigilance when considering an investment in an initial coin offering." (Source: SEC)
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Steven Zheng is a researcher for The Block. He joined The Block in August 2018. Steven graduated from St. John’s University with a degree in economics. Previously, he covered blockchain and crypto at Radicle, a startup analytics firm. He also had brief stints at Cheddar, a media startup, and Bowery Capital, a venture capital firm. He owns bitcoin. Follow Steven on Twitter at: @Dogetoshi
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