Cryptocurrency Company; Riot Blockchain Has Been Subpoenaed By SEC

Cryptocurrency Company; Riot Blockchain Has Been Subpoenaed By SEC

Cryptocurrency
April 18, 2018 by Bitzamp
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Cryptocurrency Company; Riot Blockchain Has Been Subpoenaed By SEC Riot Blockchain, the Nasdaq-listed company that made headlines last year after its focus on cryptocurrency related services received a subpoena from the US Securities and Exchange Commission. The company announced the filing of its 2017 Annual Report Form 10-K, which can be viewed on the Company’s
Bitzamp

Cryptocurrency Company; Riot Blockchain Has Been Subpoenaed By SEC
Riot Blockchain, the Nasdaq-listed company that made headlines last year after its focus on cryptocurrency related services received a subpoena from the US Securities and Exchange Commission. The company announced the filing of its 2017 Annual Report Form 10-K, which can be viewed on the Company’s website or at SEC.gov.

According to the filing, the company said it “intends to fully cooperate with the SEC request” and believes the request has something to do with its move into blockchain and cryptocurrency business, a volatile field that has the SEC on alert.

Riot’s annual 10K report disclosed that it had received the SEC subpoena on April 9 “requesting certain information from the Company.” Riot Blockchain Chairman John O’Rourke did not immediately respond to a request for comment. The SEC declined to comment.

In a press release, O’Rourke said: “We continue to focus on the expansion of our cryptocurrency mining operations and the active investigation of launching a cryptocurrency exchange in the United States. We see a strong integration opportunity of supply and demand between our mining operation and a potential exchange.’

“The SEC is looking closely at the disclosures of public companies that shift their business models to capitalize on the perceived promise of distributed ledger technology and whether the disclosures comply with the securities laws, particularly in the case of an offering,” SEC chairman Jay Clayton remarked at the time.
The subpoena also comes just a week after Riot Blockchain announced its acquisition of a futures brokerage firm on March 31, announcing plans to launch a cryptocurrency and futures exchange in the U.S.


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