On Monday, April 29, the SEC said it’s suspending trading of shares in Bitcoin (available on Coinbase) Generation. While a relatively unknown crypto exchange, news of the suspension has traveled far and wide. That said, it’s important to know this is a temporary suspension. In this article, we will discuss everything we know about the Bitcoin (available on Coinbase) Generation suspension.

Bitcoin (available on Coinbase) Generation Suspension: The Facts

Today, the US Securities and Exchange Commission said it was suspending Bitcoin (available on Coinbase) Generation trading until 11:59 P.M. EDT on May 10, 2019. According to the regulator, it is concerned that Bitcoin (available on Coinbase) Generation has provided the public with inaccurate information. More specifically, the SEC is concerned about a bond that the crypto exchange and mining firm “purportedly acquired from an entity based in the United Kingdom.” With concerns such as these, the SEC had no choice but to take charge, resulting in the temporary Bitcoin (available on Coinbase) Generation suspension.

Releasing a statement on Monday, the SEC announced the suspension and also cautioned shareholders and broker-dealers among others to remain vigilant: “The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.”