Bitcoin has slid into negative territory after the US Securities and Exchange Commission rejected the plans for the SolidX Bitcoin ETF. The cryptocurrency is down 0.7% at $1,033 a coin. It was as high as $1,066 earlier on Tuesday.
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Bitcoin dives after the SEC shoots down plans for another bitcoin ETF
This is the second bitcoin ETF rejected by the SEC.
The opening of Hong Kong's first bitcoin retail store.
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The regulator cited the fact that bitcoin is traded on unregulated markets, which means the SEC wouldn't be able to prevent fraud or market manipulation.In its ruling the SEC said:
Tuesday's announcement follows a similar ruling that was reached on March 10, when the SEC said it had rejected the Winklevoss twins' bitcoin ETF.
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