Spotlight on SEC’s action on cryptocurrency market

This weekend was a mixed bag of news from the SEC to the cryptocurrency space, some unpleasant news has been announced (on September 9thto be precise) for the two XBT Provider products, namely, Bitcoin Tracker One and Ether Tracker One exchange-traded notes, issued by XBT Provider AB, a Swedish-based subsidiary of the U.K. firm CoinShares Holdings which were highly flaunted investment avenues that pursued to attract attention from the U.S. public markets investors. 

While the U.S. Securities and Exchange Commission (SEC) issued the “order of suspension of trading” for two exchange-traded products issued by XBT Provider AB (publ), a Swedish company headquartered in Stockholm.

On the flip side, the SEChired Elad Roisman as its new member, who could strike a chord and bridge the balance in favor of a bitcoin ETF approval. Well,Trump’s reshuffling of SEC’s officials is likely to make a buzz in Bitcoin ETF approval, the new commissioner befits the 3rdTrump appointee to the SEC. For now, the SEC must reassess its documentations for the guidelines to the blockchain and initial coin offerings, as per the Roisman statement.

The SEC went on to express that the decision was in "the public interest" and that it was in sync with its directives to ensure the "protection of investors."

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -110 levels (which is bearish), while hourly USD spot index was at -52 (bearish) while articulating (at 08:07 GMT). For more details on the index, please refer below weblink:

http://www.fxwirepro.com/currencyindex