First Bitcoin Capital Corp (BITCF)

[janice shell]

if FINRA and the SEC were suspecting fraud and so concerned, why didn't they just slap this with a DTC chill where then it WON't be able to trade?

The SEC and FINRA don't tell DTC what to do. Technically, DTCC is regulated by the SEC, but that doesn't mean much. The SEC does have to approve new DTC rules. Usually that works out. But in the past couple of years, it hasn't, at least with respect to a new approach to the imposition of chills and global locks.

Initially, the SEC asked DTC to make their policy regarding chills and locks more easier to understand, and more responsive to the needs of issuers. DTC worked up a proposal and submitted it to the SEC. It seemed reasonable enough, and offered a way for companies to appeal DTC's actions, and also set a timetable for eventual expiration of the chills and locks.

A period for public comment was set. It was then extended. Then nothing happened. And finally, DTC withdrew the proposal. Exactly what its policy is now is unclear, but it seems to be annoyed with the SEC.

Also, 'suspecting fraud' seems like a big stretch...even for you. Can you highlight where in the SEC statement you see that being affirmed? I must have missed it.

The SEC suspends stocks for one of two reasons: delinquent financials or suspected fraud. Obviously BITCF is not a delinquent filer, so...