The main Shenzhen Stock Exchange (SZSE), backed by the state, began to investigate a company that recently announced plans to open a Blockchain research laboratory for applications in the medical industry, local media Jinse reported March 21. .
On Tuesday, March 20, SZSE issued a letter ordering health device manufacturer Lifesense to disclose information about its plans to launch a "Blockchain laboratory." The move followed the Lifesense announcement of the project on March 19, which caused the stock price to rise 10 percent, drawing the attention of the stock market when the price touched the daily limit of the SZSE.
SZSE temporarily suspended the stock trade of Lifesence and required the company to provide details explaining the relevance of the Blockchain technology for the company's activity, the annual plans of the project for the next three years and the amount of the financing actions of the company. Lifesense. SZSE ordered that Lifesense respond before March 23, according to the letter.
Earlier this week, SZSE sent a similar query to Zhejiang Enjoyor Electronics, China Money Network reported on March 20. As a result, Enjoyor Electronics had to remove its announcement about WeChat that claimed to launch the first forensic electrical data certificate based on Blockchain.
In January, SZSE issued a warning that it will closely monitor the companies that use Blockchain's popularity to increase their share prices. According to China Money Network, SZSE has investigated more than 20 listed companies for misleading claims about Blockchain technology.
Previously, Cointelegraph reported on companies that use the word 'Blockchain' in the US. UU to increase stock prices through the advertising surrounding the new technology. In January, the Securities and Exchange Commission (SEC) of the United States announced increased scrutiny of US companies that change their name to include the word "Blockchain" to do so legitimately. In February, the SEC suspended trade in three companies that issued statements on the acquisition of "assets related to Blockchain technology."