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Bitcoin Generation Responds to SEC Trading Suspension

Published 05/03/2019, 05:00 AM
Updated 05/03/2019, 06:02 AM
Bitcoin Generation Responds to SEC Trading Suspension
BTC/USD
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The Suspension


On April 29, the United States SEC announced a temporary suspension order on the trading of Bitcoin Generation shares (BTGN) pending an investigation into the company’s acquisition of a €20 Million bond.

In March 2018, Bitcoin Generations acquired a bond from QuickWash Ltd in exchange for a sum of its native utility tokens, Bitcoin Generation Coins (BGC) and Bitachon tokens (BTA), as well as common shares in the company to the value of €20 Million.

Inside the document, the SEC outlined 4 main issues surrounding the “accuracy and adequacy of information” of the purchased bond, and ordered Bitcoin Generation to provide evidence on the matter to satisfy their concerns.

These included;

“(1) BTGN’s public statements regarding the viability and valuation of a bond that BTGN purportedly acquired from an entity based in the United Kingdom; (2) the amount of BTGN’s outstan...

This article appeared first on Cryptovest

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