SEC Expands Inquiry Into Riot Blockchain, Filing Reveals

The legal woes of biotech company-turned-crypto miner Riot Blockchain don’t appear to be slowing down. In the firm’s latest 10-Q quarterly report, filed to the U.S. Securities and Exchange Commission (SEC) on Tuesday, Riot Blockchain provided more details about the SEC’s investigation into the firm’s blockchain pivot, noting that the regulator is now looking into a number of the firm’s registration statements, as well as its acquisition of a minority stake in Canadian crypto exchange Coinsquare. Riot first disclosed that it had received document requests from the SEC earlier this year, noting that the regulator was looking into specific statements about its financial health from the past 10 months. Perhaps more notably, Riot Blockchain stated that the SEC’s Division of Corporation Finance and Division of Investment Management had sent several comment letters related to the company’s cryptocurrency mining efforts. The filing stated: “The comments raise matters related to, among

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