Article 3HJVQ Bitcoin falls 10 percent after SEC warns about unregulated exchanges

Bitcoin falls 10 percent after SEC warns about unregulated exchanges

by
Timothy B. Lee
from Ars Technica - All content on (#3HJVQ)
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The Securities and Exchange Commission issued a strongly worded warning on Wednesday about the risks of dealing with unregulated cryptocurrency exchanges.

"The SEC staff has concerns that many online trading platforms appear to investors as SEC-registered and regulated marketplaces when they are not," the SEC statement said.

The announcement triggered a sharp selloff in cryptocurrency markets. Bitcoin's value plunged 10 percent, from $10,600 to $9,500, in the hour after the announcement was posted. Ethereum, Bitcoin Cash, Litecoin, and other major cryptocurrencies all suffered significant losses.

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