🛑 SEC suspends trading in company for making false claims about SEC regulation and registration
The Securities and Exchange Commission suspended trading in the securities of Nevada-based American Retail Group, Inc. aka Simex, Inc. through Nov. 2. The company published press releases that falsely claimed that Simex partnered with an "SEC qualified custodian" and that its token offering was registered "in accordance to SEC requirements." However, the SEC does not endorse or qualify custodians for cryptocurrency, said Robert A. Cohen, chief of the SEC Enforcement Division’s Cyber Unit.
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