Third in a Month: SEC Moves to Halt OTC Trading for Bitcoin Firm

The U.S. Securities and Exchange Commission (SEC) has ordered a temporary freeze on trading for a publicly listed bitcoin exchange company.

On August 24, officials for the securities markets regulator announced a trading suspension for American Security Resources Corp. (ARSC), effective until 11:59 am ET on September 8, 2017.

The company – which has changed hands several times, according to existing SEC filings – declared at the start of this month that it would move to launch a cryptocurrency exchange, moving to rebrand as the Bitcoin Crypto Currency Exchange Corporation.

It was those statements and others issued at the time that appear to have sparked questions from the SEC, according to the August 24 order.

According to the SEC:

As previously reported by CoinDesk, in the past month, the SEC has moved to suspend trading on at least two other bitcoin-related companies that are publicly listed on over-the-counter (OTC) markets.

Shares for one of those companies, CIAO Group, appear to have resumed trading, according to data from Bloomberg. In a letter to shareholders, released by the second firm late last week, First Bitcoin Capital pushed back against the SEC suspension and pledged to have it removed.

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