Regulatory Series on Cryptocurrencies: US SEC Seems Reluctant on Bitcoin

The US Securities and Exchange Commission (SEC) and its staff “have spent a significant amount of time” focusing on the blockchain and crypto-assets with a slightly reluctant mode and that is a trend lingering currently.

The US regulator seemed little passive on the Bitcoin’s possibilities by suspending all trading in securities of Bitcoin Generation (BTGN), the first publicly traded cryptocurrency exchange. 

Well, the interruption would be on May 10th in between 9:30 AM EDT to 11:59 PM. The SEC confirms about the announcement that this suspension would be a momentary development of trading in the securities of Bitcoin Generation, a publicly traded cryptocurrency exchange from Bartlesville, Oklahoma. 

There has been a lingering skepticism over the public information regarding BTGN’s financial state. Owing to the shortcomings about the authenticity of the information BTGN has brought in the marketplace, the US regulatory watchdog sees apprehensions over the pragmatic approach of a bond BTGN allegedly acquired from a UK-based entity.

Hence, the BTGN’s outstanding common stock and promotional activity have been in the grey shaded area. Moreover, the Securities and Exchange Commission is also concerned over the impact that its promotional activity has on the market.

Currency Strength Index: FxWirePro's hourly BTC spot index is inching towards -19 levels (which is mildly bearish), and hourly USD spot index has bearish index is creeping at -129 (highly bearish) while articulating (at 10:24 GMT). 

For more details on the index, please refer below weblink: http://www.fxwirepro.com/currencyindex