RATE Group | SEC temporarily ceases trading of obscure Bitcoin and Ethereum securities
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SEC temporarily ceases trading of obscure Bitcoin and Ethereum securities

10 Sep SEC temporarily ceases trading of obscure Bitcoin and Ethereum securities

Posted at 11:51h in Ethereum News by

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The US Securities and Exchanges Commission (SEC) has initiated a suspension of its cryptocurrency-based Exchange-Traded Notes (ETN). But don’t worry, it’s only temporary.

In an announcement made yesterday, the SEC declared a suspension of trading in the ETN securities known as Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF).

It appears that this temporary ban has been instigated because there is still much confusion in the market over these trading instruments.

“The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments. This order was entered pursuant to Section 12(k) of the Securities Exchange Act of 1934 (Exchange Act).”

The pause in trading will last only until September 21. So anyone interested in trading these cryptocurrency ETNs can do so starting from that date.

An ETN is a form of debt security. It is unsecured which means…

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