On April 29 Bitcoinist reported that the SEC had temporarily suspended trading securities at Bitcoin Generation (BTGN). President and CEO Deniz Hadjiev reached out to share his official response.
Bitcoin Generation Says the Suspension Came ‘Without Notice’
The company claims that the temporary trading suspension, in place from April 29 to May 10, came “without notice”. It has since hired Cutler Law Group, P.C. attorneys to compile an official response addressing the key concerns.
The reasons behind the swift and temporary ban and the information the SEC is seeking can be summed up in four points:
- Questions over the validity of a bond that BTGN acquired from a UK-based entity
- The total value of Bitcoin Generation’s outstanding common stock
- Questions over the promotional material put out by the publically traded cryptocurrency exchange and its impact on the market
- An extensive review of BTGN’s financial state
BTGN Ready to Comply with SEC Demands
In a public statement, Bitcoin Generation says that the publically…