1 week ago
Crypto wallet supplier Exodus said the US Securities and Exchange Commission (SEC) made a “surprising last-minute decision” that delayed its planned listing connected the NYSE American Stock Exchange, according to a May 9 statement.
NYSE said the SEC halted the listing due to the fact that the fiscal regulator’s unit are inactive reviewing Exodus’s registration statement.
Exodus added:
“We’re hopeful the SEC volition enactment successful bully faith, and Exodus volition beryllium welcomed to the NYSE successful a timely manner. Crypto’s imaginable is undeniable…”
Earlier successful the week, Exodus revealed that its shares would beryllium uplisted from the OTCQX to NYSE American by May 9. At the time, CEO JP Richardson said the determination would “create greater semipermanent worth for our stockholders by expanding our beingness wrong the capitalist assemblage and, successful turn, summation liquidity.”
However, with the SEC’s delaying the uplisting, Exodus said it mightiness reconsider listing connected a nationalist securities speech later. Nonetheless, its shares, with the ticker EXOD, would proceed to commercialized connected OTCQX.
Richardson said:
“While we are amazed and confused by this last-minute decision, we stay hopeful that the SEC volition travel done connected its committedness to dainty america arsenic the instrumentality intends. Exodus has been afloat transparent and responsive passim this process and we expect a swift solution successful this matter.”
Meanwhile, caller unaudited reports connected Exodus’ first-quarter net revealed a important 118% year-on-year gross growth, totaling astir $29.1 million. The steadfast said it has astir 1.69 cardinal progressive users.
SEC’s crypto reluctance
In caller years, the SEC, nether Gary Gensler‘s leadership, has taken an aggressive stance toward the emerging crypto industry.
Gensler’s tenure has been marked by a absorption connected integrating crypto into the SEC’s regulatory framework, utilizing the Howey trial to classify integer assets arsenic securities.
However, critics reason against the SEC’s heavy-handed enforcement tactics, urging Congress to supply wide legislative guidance instead. Unfortunately, the gait of legislative enactment successful this realm has been slow, exacerbating the industry’s uncertainty.
The station SEC delays crypto wallet supplier Exodus’ NYSE American listing amid ongoing scrutiny appeared archetypal connected CryptoSlate.
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