The US Securities and Exchange Commission (SEC) has temporarily suspended the trading in the securities of American Security Resources Corp.

The suspension notice follows the company’s announcement made earlier this month to change its name to Bitcoin Crypto Currency Exchange Corporation. CEO Frank Neukomm had said that the change is intended to reflect the company’s new activities, while adding that it is better positioned to aggressively pursue crypto-currencies and Bitcoin opportunities.

The SEC said:

“The Commission temporarily suspended trading in the securities of ARSC because of questions that have arisen regarding publicly available information about the company in press releases on OTCMarkets.com, dated August 1, and August 8, 2017, concerning, among other things, the company’s business transition to the cryptocurrency markets and early adoption of blockchain technology.”

Bitcoin Crypto Currency Exchange Corporation is the creator of BitcoinMWallet, a mobile payment application which will allow trade and redemption of Bitcoins or other crypto currencies using iOS or Android devices from anywhere, anytime, according to the official website.

According to the SEC, the suspension will terminate on September 8, 2017. This follows the recently issued temporary suspension orders against CIAO Group (rebranded as NuMelo Technology) and First Bitcoin Capital.

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