Why The SEC Suspending Bitcoin ETN Trading Doesn't Matter
On today’s episode of The Cryptoverse…
While reading the cryptocurrency news headlines today, you may very well have seen claims to the effect of “SEC suspends Bitcoin and Ethereum investment vehicles”.
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Official SEC document:
https://www.sec.gov/litigation/suspensions/2018/34-84063-o.pdf
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Thank you for bringing some clarity into this. At first by "confusion" I thought they meant there was some inaccurate data but that doesn't seem to be the case. As always super informative <3
Hopefully in the end we get something that's in the best interest of the investors.
While I think the SEC is trying to do its job and protect potential investors, I think the suspension goes too far as it should be the brokerdealer’s responsibility to ensure suitability requirements are me for their clients. They should instead use the tools available to them through that regulatory framework to enforce protection that way instead of blanket suspension despite it being temporary. However, I agree that this should not impact the market but overreacting has been present here for some time now.