Bitcoin wallet software company Exodus Movement has said it was “surprised, confused, and deeply disappointed” after the Securities and Exchange Commission (SEC) moved to delay the company’s planned listing on a U.S. stock exchange. 

Yesterday, the SEC postponed the crypto company’s listing on the NYSE American, the New York Stock Exchange’s sibling market, according to Exodus. 

“Today, the SEC made a surprise last-minute decision that delays Exodus from listing on the NYSE American,” Exodus said on Twitter (aka X) late Wednesday. 

“While we are deeply disappointed, Exodus will continue to empower customers all over the world to control their own wealth using our best-in-class self-custody crypto wallet,” the firm’s statement reads.

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In an official statement, Exodus CEO JP Richardson said: “While we are surprised and confused by this last-minute decision, we remain hopeful that the SEC will follow through on its commitment to treat us as the law intends.”

Exodus, which offers a self-custodial software wallet for a number of cryptocurrencies, declined to comment further and respond to Decrypt’s questions. 

The company, which went public in 2021, was due to list its common stock on NYSE American under the ticker EXOD. 

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Exodus’ common stock was set to be tokenized on Algorand, the crypto network behind ALGO, the 64th biggest digital asset. That would make it the only company in the U.S. to have its common stock tokenized on a blockchain. 

Wall Street’s top regulator, the SEC, has come down hard on the digital asset industry over the past few years. It has sued a number of top American crypto exchanges—including Coinbase and Kraken—for allegedly offering unregistered securities, and has further warned other crypto startups that enforcement actions are coming.

Edited by Andrew Hayward

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