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Trading of two crypto-based securities is suspended by US SEC

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Security and Exchange Council (SEC) of U.S. prohibited trading of XBT Provider’s Ether and Bitcoin Tracker One Securities on Sunday, September 9.

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Mentioning the confusion among the investors regarding the Ether Tracker One (CETHF) and Bitcoin Tracker One (CXBTF) issued a notice SEC and said that the two exchange-traded notes (ETN’s), ETHF and CXBTF would halt trading until September 20.

The statement from SEC says, “The Commission temporarily suspended trading in the securities CXBTF and CETHF because of confusion amongst market participants regarding these instruments…The Commission cautions broker-dealers, shareholders, and prospective purchasers that they should carefully consider the foregoing information along with all other currently available information and any information subsequently issued by the company.

CXBTF is the first bitcoin-based ETN available on the regulated exchange. In October 2017, CETHF also joined the same milestone. Since then XBT has also come up with Bitcoin and Ether Tracker Euro options.

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Alerting the brokers over strict compliance requirements, SEC’s statement adds, “If any broker or dealer enters any quotation which is in violation of the rule, the Commission will consider the need for prompt enforcement action,”

The cryptocurrency investors are going through a rough stage in terms of regulation in the U.S., apart from this ban the recent rejection of a slew application for a Bitcoin exchange-traded fund (ETF) also impacted a handful of investors.

After a massive fall Bitcoin is currently trading around $6300 whereas Ethereum is just below $200.

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