HGC Data Tech (HGC) introduced Tuesday that it’ll begin providing its securities tokens at U.S. digital asset change INX, as Chinese language companies face delisting dangers within the states because of regulatory variations.
See associated article: SEC locations Chinese language crypto mining rig maker Canaan on pre-delisting checklist
Quick details
- Xiamen-based HGC offers order matching and freight cost companies to the logistics trade within the mainland.
- The Chinese language logistics community firm registered within the British Virgin Islands mentioned it hopes to lift US$20 million by the Trucpal securities tokens beginning July 25, in line with a press launch.
- All publicly traded corporations within the U.S. should enable entry to audit papers, whereas China has banned the exporting of audit papers with out permission since 2009.
- The Overseas Company Accountability Act (HFCAA) stipulates that corporations that refuse to present entry to audit working papers be flagged by the U.S. Securities and Change Fee (SEC), and might be topic to delisting if paperwork aren’t made out there inside three years.
- In 2022, 150 Chinese language companies have been confirmed to be delisted as of July.
- Each nations have reportedly been in discussions to ease delisting dangers because of regulatory variations, with Beijing hoping to finalize an settlement this 12 months.
See associated article: Fusang receives inexperienced gentle for US$10M equity-token IPO
