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On Thursday, Bitcoin as well as other crypto assets kept diving after the Securities and Exchange Commission dared to warn against suspicious crypto exchanges.
Bitcoin showed an outcome of $9,757.10, sliding 7.88% on the Bitfinex, which is not far from its overnight minimum of $9,572.
On Wednesday, the SEC warned market participants against quite suspicious online platforms, telling that any exchange, which trades digital assets classified as securities are bound to be registered with the watchdog.
In spite of the fact some of these platforms utilize strict standards to deal only with high-quality digital currencies, the SEC doesn’t think these standards or the crypto assets chosen by the platforms shouldn’t be likened to the listing requirements of national securities exchanges, as the agency pointed out.
The SEC announcement emerged the same day that crypto exchange platform Coinbase told it’s on the verge of introducing a weighted index fund to have to do with first-time crypto investors. As the virtual currencies gain greater popularity, watchdogs around the globe have been discussing the best way to have cryptocurrencies regulated.
Besides this, on Tuesday Jack Weinstein, US District Judge ruled that the CFTC was free to file a fraud lawsuit against Patrick McDonnell as well as his company dubbed Coin Drop Markets. Since 2015 the agency has classified Bitcoin to be a commodity, while Weinstein’s ruling generally underpins that decision.
Crypto assets were also held back by reports that Japan’s Financial Services Agency had seven crypto exchanges punished for not having adequate internal control systems. Two exchanges, FSHO and Bit Station were forced to suspend trading for one month.
As for other virtual currencies, they headed south, with Ethereum, the world’s number two crypto asset by market cap, edging down 5.63% hitting $743.91.
On Monday, the evergreen buck declined versus its counterparts on worries of an escalation in the US-China trade conflict, while a stronger UK currency and euro also put pressure on market sentiment…
On Monday, crypto assets stood still…
On Friday, the evergreen buck went down versus other currencies after weaker than anticipated inflation data because market participants worried that the key US bank could decelerate rate lifts…
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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