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SEC Suspends Trading In Oklahoma-based Bitcoin Miner's Shares

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The U.S. Securities watchdog has suspended trading of shares in Oklahoma-based cryptocurrency exchange and mining firm Bitcoin Generation (BTGN).

The U.S. Securities and Exchange Commission (SEC) said it took the action due to concerns about the accuracy and adequacy of information in the marketplace about BTGN's public statements regarding the viability and valuation of a bond that it purportedly acquired from a UK based firm.

SEC said it also wants clarity regarding the amount of BTGN's outstanding common stock; stock promotional activity relating to the exchange and the market impact of such promotional activity; and the accuracy and adequacy of current public information regarding BTGN's financial condition.

The Commission cautioned broker-dealers, shareholders, and prospective buyers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the little-known company.

Trading in the securities of the company, based in Bartlesville, Oklahoma, will remain on hold until May 10.

SEC warned brokers and dealers to be alert to the fact that after this date, no quotation may be entered unless
and until they have strictly complied with all of the provisions of Rule 15c2-11 under the Exchange Act.

The Commission has also warned that it will take enforcement action if any broker or dealer enters any quotation which is in violation of
the rule.

Bitcoin Generation describes itself on its website as a crypto exchange, offering dollar trading pairs with bitcoin, ethereum, litecoin, bitcoin cash SV, monero and XRP.

The site also claims that the company runs a mining facility with more than 10,000 machines.

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