Riot Blockchain gets subpoena from SEC for documents pursuant to investigation
Riot Blockchain disclosed in a regulatory filing, that on April 9, the company received a subpoena requesting documents from the U.S. Securities and Exchange Commission pursuant to a formal order of investigation. As part of its ongoing review of the Company's SEC filings, the company has received and responded to comments from the staff of the SEC regarding certain developments and the company's ongoing development of a blockchain/cryptocurrency business model. These inquires include the proper asset classification, applicability of the Investment Company Act or 1940, to the Company's business and affairs and accounting treatment of its cryptocurrency. The resolution of these matters is ongoing and has been described in more detail under "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended December 31.