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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 Tuesday, the evergreen buck traded below the five-month maximum, taking a breather after the soar underpinned by soaring yields on US government bonds as well as easing tensions in US-China trade relations…
On Monday, the greenback kept soaring against the euro, yen as well as many other currencies amid the easing of fears of a trade conflict between China and the United States and a soar in the yield of US Treasuries…
On Friday, the US dollar slumped against the common currency during Asia trade after a moderate soar the day before…
America’s on the verge of starting an investigation into whether thermoplastic components utilized in some Japanese as well as German vehicles sold in the country violate its patent laws or not…
On Monday, gold headed south in European trade, making its way toward a three-week minimum after American congressional leaders came to an agreement to fund the government via the fall, thus easing worries as for a shutdown of the federal government…
On Tuesday, crude prices traded weaker because a poll on Chinese manufacturing came in weaker than expected and market participants looked ahead to American inventories on oil as well as refined products to set the overall tone…
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