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Friday, August 11, 2017

SEC and CFTC Take Opposing Views on Whether Bitcoin is Ready for Mainstream Investors

SEC and CFTC Take Opposing Views on Whether Bitcoin is Ready for Mainstream Investors

In February, the Securities and Exchange Commission (SEC) issued its eagerly awaited ruling on the Winklevoss Bitcoin ETF proposal: denied. Finance and media pundits and immediately declared that Bitcoin wasn’t ready for the mainstream, and Bitcoin's price quickly dropped. But then something strange happened: shortly after the reject, the price of Bitcoin began soaring, from around $1,100 at the time of the ETF decision to $3,430 today.


Along the way, something even stranger happened. A different regulator, the Commodities Futures Trading Commission (CFTC), approved LedgerX’s proposal to launch a regulated Bitcoin futures market.


Who are these regulators, and why are they at odds over Bitcoin’s future?


Full story at http://bit.ly/2uMkxf3


Source: CoinTelegraph


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