RATE Group | SEC suspends trading in cryptocurrency products over ETF confusion
41903
post-template-default,single,single-post,postid-41903,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

SEC suspends trading in cryptocurrency products over ETF confusion

11 Sep SEC suspends trading in cryptocurrency products over ETF confusion

Posted at 04:06h in Cryptocurrency News by

[ad_1]

A visual representation of the digital Cryptocurrency, Bitcoin, is seen on September 04 2018 in Hong Kong, Hong Kong.

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’…

[ad_2]

Source link

Tags:
, , , , , ,