Canaan Added to SEC List of Scrutinized Chinese Companies

Crypto Mining Rig Maker Canaan Added to SEC List of Scrutinized Chinese Companies
Canaan has until May 25 to dispute its inclusion, which could eventually force its delisting from the Nasdaq.

Canaan is one of over 70 companies so-identified yesterday, with other names including electric vehicle makers XPeng and Nio, e-commerce giants JD.com and Trip.com, and the maker of one of China's COVID-19 vaccines, Sinovac Biotech.

Alongside a more than 3% plunge in the broader stock market and bitcoin (BTC) on Thursday, China-linked crypto mining-related stocks are also headed sharply lower, with Canaan (CAN), Ebang (EBON), Bit Digital (BTBT) and Bit Mining (BTCM) all off 6%-10%.
https://www.coindesk.com/policy/2022/05/05/crypto-mining-rig-maker-canaan-added-to-sec-list-of-scrutinized-china-companies/

Is this a way of putting pressure on Chinese businesses and companies?

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