SEC halts trading in two cryptocurrency products

On Sunday US Securities and Exchange Commision suspended trading in two investment products that track cryptocurrencies. The Markets were in confused state with rumors that the products are Exchange Traded Funds[ETFs]

The SEC said in a statement that trading in Bitcoin Tracker One CXBTF.PQ CXBTF.PK and Ether Tracker One CETHF.PQ CETHF.PK would be halted in the United States until at least Sept. 20. As per the notice issued by SEC, it says – It appears … that there is a lack of current, consistent and accurate information. Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as ‘Exchange Traded Funds.

Read more at Yahoo Finance


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