Today's Hard|Forum Post
Today's Hard|Forum Post

Wednesday March 07, 2018

Bitcoin Price Dives After SEC Says Crypto Platforms Must Be Registered

Bitcoin fell up to 13% today down to $9,416 after the U.S Securities and Exchange Commission reiterated that online trading assets must register with the agency as exchanges according to a report from Bloomberg. Instead of registering with the SEC, some of the largest trading platforms like COinbase have money transmission licenses with separate states.

News Image

Good. The article also states that "Adding to concern is speculation that Asia-based Binance, one of the largest exchanges, has been hacked." We knew it would only be a matter of time before government got involved in the cryptocurrency market, and now it seems we are starting to see its early effects.

"If a platform offers trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration," the SEC said in the statement Wednesday.