Bitcoin ETF status summary on March

Bitcoin has slid into negative territory after the US Securities and Exchange Commission declined the plans for the SolidX Bitcoin ETF. The cryptocurrency is down 0.7% at $1, 033 a coin. The regulator cited the fact that bitcoin is traded on unregulated markets, which suggests the SEC would not be capable to prevent fraud or market manipulation. Based on the record before it, the Commission believes that the substantial markets for bitcoin are unregulated. Consequently, as the Exchange hasn't entered into, and would presently be unable to enter into, the kind of surveillance sharing agreement which has been in place with regard to all previously authorized commodity trust ETPs contracts that help address concerns about the possibility of deceptive or acts of manipulation and practices in this market, the Commission doesn't find the proposed rule change to be consistent with the Exchange Act. 2017 was a volatile year for bitcoin. Tuesday's announcement follows a comparable ruling which was reached on March 10, when the SEC said it'd rejected the Winklevoss twins bitcoin ETF. The cryptocurrency accumulated 20% in the very first week of the year, but soon crashed 35% after studies appeared that China is going to crack down on trading. Bitcoin extended to climb higher, investing in a peak of $1, 327 a coin briefly before the SEC declined the Winklevoss ETF. First, China's biggest exchanges started charging a flat fee of 0.2% per transaction, then they declared they were preventing client withdrawals.