The U.S. Securities and Trade Fee (SEC) has suspended buying and selling in a agency for making a number of false cryptocurrency-related claims. Amongst them are the agency’s partnership with an SEC certified custodian, regulated cryptocurrency transactions, and tokens which can be absolutely registered with the fee.
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The SEC introduced on Monday that it has quickly suspended buying and selling in the securities of American Retail Group Inc. (ARGB) “for making false cryptocurrency-related claims about SEC regulation and registration.”
Referencing ARGB’s two August press releases, the SEC described:
The corporate [claimed it] had partnered with an SEC certified custodian to be used with cryptocurrency transactions that may be ‘below SEC laws,’ and that the corporate was conducting a token providing that was ‘formally registered in accordance (with) SEC necessities.’