The SEC just handed Bitcoin a huge setback

The Securities and Exchange Commission has denied the application for the Winklevoss Bitcoin Trust ETF, in a stunning defeat for its founders, the Winklevoss Twins. In an order today, the commission found that the proposed fund was too susceptible to fraud, due to the unregulated nature of Bitcoin. The result is a major setback for the fund, and a frustrating false start for the crypto-currency at large.

” Still, approval would have meant a massive new opportunity for the Bitcoin world, and some experts predicted the price of Bitcoin would double if the fund was approved. Unfortunately for speculators, the commission ultimately concluded that the price of Bitcoin is still too vulnerable to manipulation for it to be certified. “Regulated markets related to the underlying asset provide a ‘necessary deterrent to manipulation,’” the commission wrote in its analysis.

Coin Coin Latest News, Coin Coin Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Solana, Bitcoin SV Biggest Gainers From SEC Bitcoin ETF-Fueled PumpSolana has made strong comeback this year
Source: Utoday_en - 🏆 295. / 63 Read more »

Bitcoin surged as much as 10% on erroneous report SEC approved spot ETFBitcoin surged as much as 10% on erroneous report SEC approved spot ETF
Source: Investingcom - 🏆 450. / 53 Read more »

BTC Skyrockets to $30K on Reports About Approved Spot Bitcoin ETF by the SECCrypto Blog
Source: Crypto_Potato - 🏆 568. / 51 Read more »

BlackRock says application for spot bitcoin ETF is still under review by SECBlackRock said Monday that its application for a spot bitcoin ETF was still under review by the Securities and Exchange Commission.
Source: TheBlock__ - 🏆 464. / 53 Read more »

Bitcoin Spikes on False BlackRock Spot Bitcoin ETF Approval RumorNoelle Acheson is the former head of research at CoinDesk and Genesis Trading. This article is excerpted from her Crypto Is Macro Now newsletter, which focuses on the overlap between the shifting crypto and macro landscapes. These opinions are hers, and nothing she writes should be taken as investment advice.
Source: CoinDesk - 🏆 291. / 63 Read more »

Bitcoin price sees volatile Monday, spiking near $30,000 following false bitcoin ETF newsBitcoin's price surged to almost $30,000 in response to an incorrect report about a potential bitcoin ETF approval.
Source: TheBlock__ - 🏆 464. / 53 Read more »