The SEC scrubs blockchain stocks

nRunaway Comment: Social media teams at the CSD’s Fort Worth office in Texas are beginning to look at the trend of listed companies turning their attention to rising blockchain markets. However, the market’s madness has caused a lot of criticism and regulators have taken corresponding measures. While the SFC social media has taken notice of the tremendous eye-catching ability of the blockchain-related hot words, investors need to be wary of market instability and the risks they are exploited.n
nTranslation: Annie_Xun
Fort Worth, the SEC’s social media team, has been targeting listed companies looking for the latest in blockchain prices.n
There have been reports that a large number of companies have turned to blockchain technology in the past few months to make their market a surprise by investors, including a virtual reality platform and a Long Island iced tea distributor.n
These dazzling price increases have caused criticism, at least one listed company’s stock freeze, now ushered in the Commission’s irony Forth Worth.n
The agency released a message saying:n
nWe consider adding a “blockchain” to the name, so our focus will increase by 70,000%.n
– SEC Fort Worth (@ Fort Worth_SEC) January 8, 2018n
nOther companies turning to the cryptocurrency or blockchain focus include Riot Blockchain, formerly known as BiOptix Diagnostics, and LongFin, which soared 2,600% after the blockchain microfinance company was acquired.n
Although these companies announced their participation in the blockchain, at least part of them engaged in cryptocurrency mining, the announcement came from the institutions including the Financial Industry Regulatory Authority (FINRA).n
In particular, they warned investors to beware of listed stocks that claim to be related to the technology. Last month’s article said that “companies or other advocates can easily whitewash new products, services and other cryptocurrencies,” a strategy that could be exploited by potential fraudsters.n

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