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U.S. regulator suspends trading in company for 'false' cryptocurrency claims

Reuters  |  WASHINGTON 

By Katanga JohnsonWASHINGTON (Reuters) - The U.S. Securities and Exchange Commission said on Monday it temporarily suspended trading in shares of American Retail Group after the company claimed SEC approval as a custodian for cryptocurrency trading.The agency recently cautioned investors that the agency does not issue such endorsements or approvals.Nevada-based American Retail Group, also known as Simex Inc., claimed in August it had partnered with an SEC-qualified custodian for cryptocurrency transactions that would be "under SEC Regulations," according to the agency. The company's press ...

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First Published: Mon, October 22 2018. 22:15 IST