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Cryptoassets & Blockchain Legal News

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United States

SEC Cryptocurrency Crackdown Targets UBI Blockchain

January 9, 2018 by Ashley MAO

Trading of UBI Blockchain has been temporarily suspended by the Securities Exchange Commission (SEC) due to “questions regarding the accuracy of assertions […] by UBIA in filings with the Commission regarding the company’s business operations; and concerns about recent, unusual and unexplained market activity in the company’s Class A common stock […]”

UBI Blockchain shares, sold for 0,55 USD less than a year ago, traded for up to 115 USD at, up from only 9 USD a few weeks back – all this from a company which has less than 20 employees, more than 6 million USD in debt and just over 15,000 USD in cash reserves.

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Ashley MAO, Coinlaw

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Ashley MAO is a member of the Coinlaw team. Read more about our team.

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