SEC TEMPORARILY SUSPENDS BITCOIN AND ETHER EXCHANGE TRADED NOTE (ETN) TRADING
SEC temporarily suspended trading on two cryptocurrency products in US.
The Securities and Exchange Commission ("Commission") announced the temporary suspension, pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the "Exchange Act"), of trading in the securities Bitcoin Tracker One ("CXBTF") and Ether Tracker One ("CETHF") commencing at 5:30 p.m. EDT on September 9, 2018, and terminating at 11:59 p.m. EDT on September 20, 2018.
The reason behind
A confusion related to whether CXBTF and CETHF are exchange-traded funds (ETFs). Given that the SEC has been delaying decisions on Bitcoin-backed ETFs, or rejecting applications, it’s not too big a stretch to suggest its latest move is related.
Here is what SEC has to say in a press release.
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