Bitcoin is getting cheaper after the statement of the SEC on the registration cryptocurrency exchanges
Stock Markets Group – the Value of bitcoin and other major cryptocurrencies fell after the Commission on securities and exchange Commission (SEC) has asked stock exchanges trading in digital assets, with the registration requirement.
In a statement, the us regulator said:
“If the market provides services for trading digital assets in the securities, and acts as an exchange platform, as defined by the Federal securities laws must be registered with the SEC as a national securities exchange”
The regulator also reported that the entity wants to operate as an alternative trading system, also governed by regulatory requirements, including registration with the SEC as a broker-dealer and membership in SRO.
The exchange rate of bitcoin, which in recent days was trading above $11 000, after the statement, fell below $10,000.
The value of Bitcoin fell to 9 821,65, which is 8.8% less than March 7, Ethereum lost 8%, down to the level 746,85, Ripple decreased by 7% to 0.86.
SEC warned investors that many online trading platform, providing exchange services of crypto-currencies do not work officially and without registration.
The regulator noted that, despite the fact that many exchanges require strict standards for selecting digital assets, the SEC will not limit their choice or the choice of tradable instruments on the pads. In addition, the Agency is not reglamentary trading protocols used by these services.
However, the SEC opposed the use of cryptocurrency and bitcoin long-term investment, and was sent to the companies a written recommendation to those strengthened control over transactions with cryptocurrency exchanges.
As you know, the head of the SEC, Jay Clayton, has repeatedly expressed its concern about cryptocurrency, and initial offers digital coins or ICO.
As previously reported, at the joint session of the U.S. Senate Commission on securities and stock exchanges and of the Commission on trade in commodity futures, Clayton talked about the changes for exchanges and investors using bitcoin and Ethereum, after the adoption of more stringent rules for ICO.
Bitcoin and other cryptocurrencies lately highly volatile throughout the day, as regulators and Central Banks around the world are trying to take control of the market of digital assets.
The price of bitcoin, which was about $1,000 in January 2017, reached a high of almost $20,000 in mid-December, and then fell almost 70% to $6 200 at the beginning of February 2018.
Bitcoin is in the spotlight of regulators and regulatory authorities in many countries. Active work on centralization of cryptocurrency, in the end, according to experts, will lead to the loss of important characteristics which bitcoin has emerged as a decentralized and independent payment instrument.
Stock Markets Group