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Riot Blockchain Plans Launch of Regulated Cryptocurrency Exchange in the US

The company declares in the filing that its subsidiary, RiotX Holdings Inc, would operate the new exchange. Furthermore, the exchange’s banking services would be handled by an Application Programming Interface (API) created by software company SynapseFi.

RiotX users would be allowed to create accounts connected to accredited banking institutions in the U.S., and transfer and hold both fiat and cryptocurrencies. Per the filing, the exchange will also be collaborating with exchange software provider Shift Markets.

The SEC’s investigation and subpoena information request began after Riot Blockchain changed its name to include blockchain at the peak of industry hype, and shifted their focus from biotechnology to mining. The regulator had previously noted that firms that changed their name to include blockchain would face increased scrutiny.

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