Bitcoin falls after new US regulatory assault

Bitcoin falls after new US regulatory assault

The US Financial Markets (SEC) Wednesday called the electronic platforms on which the cryptocurrency trades to register with its services, triggering the fall of the course of the most famous of them, bitcoin.

“Online brokerage platforms have become an acclaimed tool for investors to buy and sell digital assets, including currencies and tokens offered on the occasion of cryptocurrency (ICO) fundraising,” the SEC says. a statement.

They provide the opportunity for buyers and sellers to find themselves in the same place and use automated systems to set prices, execute orders and provide transaction data, adds the regulator.

Since cryptocurrencies or tokens may in some cases be similar to securities, platforms offering tools to exchange “must register with the SEC (…) or request a waiver,” concludes the regulator .

The bitcoin price has dropped nearly 10% after the release of this release and has dropped below $ 10,000. It was trading in the middle of the afternoon at $ 9,800 according to figures compiled by the financial data provider Bloomberg.

“Many platforms define themselves as a ‘trading place’ which can give the wrong impression to investors that they are regulated and meet the standards of a trading platform,” notes the SEC. At no time has the agency evaluated the assets proposed or the tools used.

The SEC has been on the brink for several months in the face of the explosion of the cryptocurrency sector, taking legal action against fraudulent ICOs, launching investigations into various companies involved in this market and regularly warning investors.

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