The U.S. Securities and Exchange Commission (SEC) announced that it has halted trading of UBI Blockchain\'s stock. Bloomberg has previously reported that Hong Kong-based UBI were using Blockchain technology to develop a product tracking system. However, a statement released by the SEC announced that it has frozen all trading in company stock, effective from 8th to 22nd January.

The US regulator said that it had taken the decision to halt trading as a result of questions about the company\'s public filings and market activity related to the stock, which has seen a price increase of over 2,000% in the past 12 months.

The SEC said: \"The Commission temporarily suspended trading in the securities of UBIA because of (i) questions regarding the accuracy of assertions, since at least September 2017, by UBIA in filings with the Commission regarding the company’s business operations; and (ii) concerns about recent, unusual and unexplained market activity in the company’s Class A common stock since at least November 2017.\"

Over the past few months, the SEC has halted trading on the stocks of several other companies for similar reasons. This could be a reaction to a large number of companies which are now pivoting towards Blockchain and Bitcoin technology.