The Securities and Exchange Commission of the United States (SEC) announced the ban on trading exchange notes (ETN).
The decision to ban Bitcoin Tracker One and Ether Tracker One ETN, presented by XBT Provider AB, will take effect from 9 to 20 September.
The regulator is protecting investors in such a way. The reason for the ban is insufficient information about these products.
The Securities and Exchange Commission announced the temporary suspension of trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) commencing at 5:30 pm EDT Sept. 9, 2018 and terminating at 11:59 pm EDT Sept. 20, 2018. https://t.co/5z1vEYFBFB
— SEC_News (@SEC_News) September 9, 2018
The SEC explains that the application for trading new products in the US contained a description of “traded funds” (ETF), the issuer calls them “certificates not related to shares”, and in public sources they are called “exchange notes” (ETN).
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