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11 Sep SEC suspends trading in cryptocurrency products over ETF confusion
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Yu Chun Christopher Wong | S3studio | Getty Images
A visual representation of the digital Cryptocurrency, Bitcoin, is seen on September 04 2018 in Hong Kong, Hong Kong.
The U.S. securities watchdog has halted trading in two cryptocurrency-related products because of confusion over the nature of the financial products.
The securities, Bitcoin Tracker One and Ether Tracker One, were slapped with a suspension notice by the Securities and Exchange Commission (SEC) on its website.
The regulator said that broker-dealer application materials and trading websites characterized the products as exchange-traded funds (ETFs) – listed funds that track a basket of assets.
Instead, the securities are “non-equity linked certificates,” the SEC said, citing the products’…
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