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Topic: [2018-09-10] SEC Suspends Trading in Bitcoin and Ethereum Investment Products (Read 134 times)

legendary
Activity: 2170
Merit: 1427
SEC besides Heist Pierce is apparently against cryptocurrencies. This is ugly truth.

I actually prefer the SEC to keep rejecting these proposals. Let's be honest, aside from speculative incentives there is nothing good that comes from them.

In the end, institutions will enter on a large scale anyway. If it isn't made easy for them by entering through ETF's, they will work on their own ways to enter in a fully compliant manner. Bitcoin is too interesting for them to let the SEC dictate the market. I just hope that whatever happens, it will take some years in order to have the crypto ecosystem actually be ready to see insane amounts of money flow in.

Last year was really embarrasing and a clear demonstration of how crypto just couldn't handle the increase in traffic. In other words, it failed hard.
jr. member
Activity: 111
Merit: 1
SEC besides Heist Pierce is apparently against cryptocurrencies. This is ugly truth.
legendary
Activity: 1288
Merit: 1087
the article doesn't say much about what's expected of the provider in the ten day suspension period. it seems to be largely about misleading marketing. can anyone who was marketed to by this tell us what was off about it?
legendary
Activity: 3374
Merit: 2198
I stand with Ukraine.
The regulator pointed to “a lack of current, consistent and accurate information” in the two crypto investment vehicles issued by Swedish firm XBT Provider AB following their entry into the US market last month.

The U.S. Securities and Exchange Commission (SEC) on Sunday issued an order to halt the trading in Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF), two investment products that track cryptocurrencies. The two exchange-traded notes (ETNs) are issued by Swedish company XBT Provider AB, a subsidiary of U.K.-based Coinshares Holdings.

The two products have been listed on the Nasdaq Stockholm exchange since 2015 and entered the U.S. market last month under the ticker CXBTF, enabling domestic investors to access and invest in the crypto ETNs in an over-the-counter (OTC) market with their U.S. dollars.

Read more: https://www.ccn.com/sec-suspends-trading-in-bitcoin-and-ethereum-investment-products/

Seeing the title at first I thought that the real war on cryptocurrencies has begun. I was surprised because I haven't expected such a war and fortunately my first impression was wrong. In fact it's only a temporary suspension which will last until 11:59 EDT on September 20. So, my trust in SEC was restored quickly. Smiley Yes, I believe that SEC has no intention of waging a war against crypto, because they are smart enough to know that they will hardly come out victorious in the end. IMO what SEC has been doing recently is making a show of protecting U.S. investors. Obviously they couldn't embrace crypto at once without such a show, but, on the other hand, the show can't be extended for too long. I think we'll be watching it for 2-3 months max and that would be it.
sr. member
Activity: 700
Merit: 250
The regulator pointed to “a lack of current, consistent and accurate information” in the two crypto investment vehicles issued by Swedish firm XBT Provider AB following their entry into the US market last month.

The U.S. Securities and Exchange Commission (SEC) on Sunday issued an order to halt the trading in Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF), two investment products that track cryptocurrencies. The two exchange-traded notes (ETNs) are issued by Swedish company XBT Provider AB, a subsidiary of U.K.-based Coinshares Holdings.

The two products have been listed on the Nasdaq Stockholm exchange since 2015 and entered the U.S. market last month under the ticker CXBTF, enabling domestic investors to access and invest in the crypto ETNs in an over-the-counter (OTC) market with their U.S. dollars.

Read more: https://www.ccn.com/sec-suspends-trading-in-bitcoin-and-ethereum-investment-products/
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