Bitcoin falling after SEC warning

Bitcoin falling after SEC warning

US Securities and Exchange Commission said about "potentially unlawful" systems to trade cryptos.

On Wednesday US Securities and Exchange Commission stated online systems for crypto-trading need to register with the agency, because digital assets are considered securities.

After such statement Bitcoin rate dropped about 10 percent, below $10K.

SEC solicits the platforms trading digital assets should be registered or be exempt from registration as a national securities exchange.

SEC consider a question whether some ICOs break law. Many platforms mislead the investors, referring to themselves as "exchanges," compliant with standards of national securities exchange. SEC also encourages investors to think twice before investing in ICO.

Crypto-investors understood the news as SEC enhanced control on crypto-currency market.

"The SEC continues to draw a line in the sand between securities and non-securities but without going so far as to name names," said Spencer Bogart, partner at Blockchain Capital. But "of all crypto assets, bitcoin seems least likely to be deemed a security—by a long shot."

Recently, Binance users, a large bitcoin exchange, complained that their accounts were hacked. However, Zhao Changpeng, chief executive officer of Binance, states “all funds are safe,” and the firm is investigating "irregularities in trading activity."


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