The regulator pointed to “a lack of current, consistent and accurate information” in the two crypto investment vehicles issued by Swedish firm XBT Provider AB following their entry into the US market last month.
The U.S. Securities and Exchange Commission (SEC) on Sunday issued an order to halt the trading in Bitcoin Tracker One (CXBTF) and Ether Tracker One (CETHF), two investment products that track cryptocurrencies. The two exchange-traded notes (ETNs) are issued by Swedish company XBT Provider AB, a subsidiary of U.K.-based Coinshares Holdings.
The two products have been listed on the Nasdaq Stockholm exchange since 2015 and entered the U.S. market last month under the ticker CXBTF, enabling domestic investors to access and invest in the crypto ETNs in an over-the-counter (OTC) market with their U.S. dollars.
Read more: https://www.ccn.com/sec-suspends-trading-in-bitcoin-and-ethereum-investment-products/Seeing the title at first I thought that the real war on cryptocurrencies has begun. I was surprised because I haven't expected such a war and fortunately my first impression was wrong. In fact it's only a temporary suspension which will last until 11:59 EDT on September 20. So, my trust in SEC was restored quickly.
Yes, I believe that SEC has no intention of waging a war against crypto, because they are smart enough to know that they will hardly come out victorious in the end. IMO what SEC has been doing recently is making a show of protecting U.S. investors. Obviously they couldn't embrace crypto at once without such a show, but, on the other hand, the show can't be extended for too long. I think we'll be watching it for 2-3 months max and that would be it.
