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Bitcoin is not allowed on New York stock exchange

The US Securities and Exchange Commission has refused to allow creating Exchange Traded Fund tied to the price of Bitcoin on the New York stock exchange.

The request for the creation of the Fund was filed by brothers Cameron and Tyler Winklevoss, the Facebook founder Mark Zuckerberg’s fellow students, who sued him for the Facebook shares.

After receiving significant funds, Winklevoss began to invest them in cryptocurrency startups. They applied for the establishment of the Bitcoin fund in 2013, but it was denied.

SEC requires a tender object to exist on a well-regulated market with an adequate level of customer protection. According to the regulator, the Bitcoin market is not mature enough to justify opening them to the general public.

Because of the SEC’s decision, the cryptocurrency value fell from $1,290 to $1,000 in a few minutes.

Source: allcoinshome.com

  • March 13, 2017 6:13 PM MSK
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