The SEC Banned ETN Trading in the US

sec banned etn

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 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).

We remind you that the SEC has already rejected Bitcoin ETF applications, later on, it acknowledged the decision to be too hasty.

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