SEC Crackdown on Bitcoin and Ethereum Tracker One

Yesterday the U.S Security and Exchange Commission had temporarily shut off the trading in two of the security tokens. These are the bitcoin tracker one(CXBTF) and ethereum tracker one(CETHF).

The halt in the service is due to the confusion of being acting as security tokens of these tokens. These tokens since following the security disguised showed be considered as part of the federal exchange law.

What is Bitcoin Tracker One?

Bitcoin is a form of digital currency, created and held electronically. … In 2015, Bitcoin Tracker One became the first bitcoin-based security available on a regulated exchange when it listed on NASDAQ/OMX in Stockholm.

 

The regulator mentioned, The suspension started from Sunday and will be last for till the September 20.


In the meantime, Agency cites investor and the confusion will be halted trading of the assets.

Those brokers who allow the trading for the Bitcoin and Etherum Tracker one will be subject to enforcement action by SEC.

The fact that they took down these is that they are educating themselves rather than the public. Considering them as the security rather than the utility token could make them ready for the regulation. But not all tokens are the security.

Though this could be turn at the end and a consolidate regulation is hopefully to come by soon.


(image source: Pexel)

Subscribe to Newsletter!

Never Miss New Article!

Prashant Gupta

Prashant Gupta

Hey Forks! It's me Prashant, I am a college student pursuing Computer Science degree. I am a Crypto Enthusiast and Tech Geek — ♥ Love to learn and Code and I am here to empower peoples towards Technology and cryptocurrency.

Next Post
Leave Comment

Subscribe to Blog via Email

Enter your email address to subscribe to this blog and receive notifications of new posts by email.

Join 210 other subscribers