United States regulators has prohibited the trading of XBT Provider’s Bitcoin and Ether Tracker One securities just this weekend, in a move that sent cryptocurrency markets scrambling.
Naming “confusion” among investors, the U.S. Securities and Exchange Commission (SEC) handed a notice that two exchange-traded notes (ETNs) – Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) – would halt trading until September 20.
“The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments,” the statement issued by the SEC reads.
It continued:
“[T]he Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.”
XBT Provider has ran Bitcoin Tracker One since May 2015 when it became the first bitcoin-based ETN accessible on a regulated exchange, making its debut on Sweden’s NASDAQ.
Ether Tracker One joined in October 2017, attaining the same breakthrough, while XBT has since also released Bitcoin and Ether Tracker Euro options.
The SEC meanwhile cautioned brokers over stringent compliance requirements in implementing its most recent provisional ban.
“If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action,” the statement continued.
The SEC’s announcement arrives amid a testing time for cryptocurrency investors against the U.S. regulatory establishment, the regulator having just recently denied a number of applications for a Bitcoin exchange-traded fund (ETF).
Posted from my blog with SteemPress : http://www.cryptalnews.com/sec-halts-trading-two-crypto-securities/
It's minimal not just simple!