Yesterday, September 20, 2018, the SEC has issued Release No. 34-84231, according to which “the Commission is instituting proceedings to allow for additional analysis of the proposed rule change’s consistency with Section 6(b)(5) of the Act [Securities Exchange Act of 1934], which requires, among other things, that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade” and “to protect investors and the public interest.”
Such a decision was somewhat surprising, because initially the deadline was set on September 30.
However, the ETF delay was expected. These news may negatively affect the market in short-term perspective. Keep calm and hold your crypto or try to catch good prices at the bottom.
The SEC said that it received more than 1,400 comment letters on the ETF rule change.
To know more what is Bitcoin ETF ad how it might influence the crypto market, please read this article.
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