SEC Suspends Trading in Securities of Crypto Exchange Bitcoin Generation

[okala]

The sec have always want to control the cryptocurrency space and at that have rights over security tokens and at that any of they regulations affects the market price of this coins, this action is one of such cause the suspension of operations of the tokens on exchange till may 10th for the outcome of they investigation is totally against the privacy and freedom of the cryptocurrency industry.

[avikz]

SEC would always do things against cryptocurrency and we should know that. This case would never hinder Bitcoin to stay firm and strong. 10 days wouldn't be long enough so it couldn't affect Bitcoin trading and the community that much. In fact, Crypto's going strong and seems like independent that every decision of Sec doesn't affect it anymore.

It has nothing to do with cryptocurrency. It's about financial irregularities. SEC clearly stated the reason for this temporary h9ld on trading - “regarding the viability and valuation of a bond that Bitcoin Generation purportedly acquired from an entity based in the United Kingdom."

If it wasn't a crypto exchange an any other company doing the same, SEC would have taken the same step!

[figmentofmyass]

Nobody gives a shit about what the SEC say/think about bitcoin now. A couple of years ago we used to see big dumps when they rejected an ETF proposal. The market has matured now & nobody gives a shit about their opinion or actions.

i think if they shut down a major exchange and seized its domains (like binance or bitfinex or an exchange of similar caliber), the market would definitely react. the market doesn't care in this case because nobody even knows who bitcoin generation inc is.

federal agencies can be a real stick in the mud......remember btc-e, 1broker etc? fortunately the SEC seems to be focusing mostly on very obvious securities transactions and fraud rather than shutting down unregistered exchanges who serve americans and list tokens.

[proTECH77]

The sec have always want to control the cryptocurrency space and at that have rights over security tokens and at that any of they regulations affects the market price of this coins, this action is one of such cause the suspension of operations of the tokens on exchange till may 10th for the outcome of they investigation is totally against the privacy and freedom of the cryptocurrency industry.

Well, to what i believed happened here is; the suspension was as a result of inadequate service rendering by the said exchange, that make the SEC suspend it services to the people. If those exchanges that are involved could improve themselves then nothing to worry of. SEC did what it think was right, for the exchange to improve. 

[XinXan]

As you can see, FUD has no impact anymore or it's really small, recent Tether FUD barely affected the market and it's certainly quite big. Finally Bitcoin and the other cryptos are becoming decentralized not reacting to any small piece of news, specially FUD, hopefully this way we can see steady growth over the next years.

A lot of it came down to the fact that everyone who was susceptible to FUD were also those who were brimming to get to the ATH again, back when the ATH was about $1,000. Now that all of the emotional investors have been more or less priced out of the market, they have a much smaller impact on the price and FUD lost a lot of its power. I'm hoping that we can see a steady growth trend in the future, but time will tell whether or not that's what happens. There used to be some major swings over little bits of information too. You'd easily see a hundred or so dollars disappear at the mention of China and Bitcoin in the same sentence.

I'm just glad that basically, all FUD has become little more than a discussion point within the community, with a very minor impact on the market, if any at all.

For sure the recent crash got rid of all the occasional, optimistic, crazy investors and only the holders / pro traders stayed. As a trader you profit from bull moves as well as crashes, a lot of people profited A LOT from the crash in 2018. Clearly the market is now turning bullish again, the cycle repeats, we will probably hit a new ATH, FOMO will most likely come back again and another crash will, again, most likely happen.

[BitHodler]

If it wasn't a crypto exchange an any other company doing the same, SEC would have taken the same step!

People have gotten too sensitive to everything regulating bodies do. What people don't understand is that they are in place to protect investors, and they will do everything to make sure the rules are respected.

They aren't working against crypto services, crypto services are working against themselves because they fail to comply with regulations. Seriously, how many trash services do we have in crypto? Too many to count....

Look at Coinbase, they do everything the right way legally and have even been granted approval for their own coin backed fund, which is something legacy institutions can only dream about right now....

If you do the right thing, legally, there is nothing to worry about.

[Kelvinid]

The sec have always want to control the cryptocurrency space and at that have rights over security tokens and at that any of they regulations affects the market price of this coins, this action is one of such cause the suspension of operations of the tokens on exchange till may 10th for the outcome of they investigation is totally against the privacy and freedom of the cryptocurrency industry.

Well, to what i believed happened here is; the suspension was as a result of inadequate service rendering by the said exchange, that make the SEC suspend it services to the people. If those exchanges that are involved could improve themselves then nothing to worry of. SEC did what it think was right, for the exchange to improve. 

SEC aren't crypto enemy, only they just want that all are in fair. They just wanting to clarify everything that any exchanges must comply the requirement to finally operate. With that situation, I believe also that SEC is right and will hold until such time that they will submit the requirements. There is no harm with that if they will follow the boards or there is something hide inside.

[candy27]

The United States Securities and Exchange Commission (SEC) has temporarily suspended trading in the securities of crypto exchange Bitcoin Generation, the government agency announced on April 29.


Source

https://cointelegraph.com/news/sec-suspends-trading-in-securities-of-crypto-exchange-bitcoin-generation/amp


I think this will not afect the price.

What is your opinion?
Can this affect the price?

These kind of things no longer move the price of bitcoin or alts.

What moves the price is shady stuff with tether along with fee increases due to a rising mempool.

[jimskiy]

The United States Securities and Exchange Commission (SEC) have banned of crypto exchange and I not get based and true information is correct or not, maybe just an issue how to make many people panic about their asset for selling it on lower price.

[btc_angela]

Never heard of this 'crypto exchange' or 'mining firm' so I don't think that it will have a big impact in the market right now. The Bitfinex and Tether drama didn't affect us that much so I don't see this news will generate much FUD or panic because it is relatively unknown.

We are just having a healthy corrections, investors or speculators are just booking their profits. Nothing to worry about.

Market maturing and we are so tired of every negative news like Tether or SEC again on our face. So we don't care what they gonna say or what FUD statements are we going to heard. As you can see, investors are still shelling out money in the ecosystem, proving that we have matured and knows what we are doing and the benefits it can bring to us long term.

[Kakmakr]

This is another typical example of a storm in a cup event, because nobody even know this "Bitcoin Generation" blockchain based company.   You can compare this to a little known street café in a small town.  

In any way, the SEC picked up on some irregularities in the BTGN's stock promotional activities and inaccuracies with information related to a bond purchased from a UK based entity.

What did we learn from this? Do not put too much trust in centralized services, because they are easy targets for governments.  

[dothebeats]

This will not produce any effects against the price IMO and the reason why SEC suspended trading is perhaps due to some irregularities on their papers and compliance to SEC rules and guidelines. I don't think this is SEC starting to be a hindrance on startups and new firms who wish to stay on the cryptomarket but rather the SEC doing something for consumers and the cryptomarket as a whole.