SEC Halts Trading In Chinese Crypto Company That Soared 900% In 2017

The SEC has suspended trading in the shares of UBI Blockchain Internet, a Hong Kong-based company that advertises blockchain programs and services.

According to the SEC, it froze trading of UBI shares because of potentially inaccurate information the company filed in its disclosures to the agency and "recent, unusual and unexplained market activity" around UBI stock since November.

Shares of UBI jumped from $7.20 on Dec. 8 to $87 on Dec. 18.

-RW

(via ZeroHedge)