Image Placeholder

Bitcoin plunges after SEC seeks to rein in cryptocurrencies

Cryptocurrencies have been on a wild ride and the Securities and Exchange Commission is trying to rein them in once and for all.

The SEC warned on Wednesday of “potentially unlawful online platforms for trading digital assets.” The federal agency said that cryptocurrency traders should only buy and sell them on exchanges registered with the SEC.

“If a platform offers to trading digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration,” said the SEC.

X
X