SEC rejected the second bid of the Winscloss brothers to launch Crypto-ETF

The US Securities and Exchange Commission rejected the second application of the Winsklvoss brothers, the founders of GEMINI cryptobyri, to launch a cryptocurrency ETF. This news led to a rapid drop in the price of Bitcoin to $ 7840 and the deterioration of the general mood of the market.

Last year, SEC rejected the first offer of WinkLEVOSS BITCOIN TRUST, but in June the Panel filed a modified application, which yesterday also received a refusal. The main reason for the failure of the regulator doubt was in the sustainability of Gemini to manipulations. The Commission also touched upon investor protection and fraud. However, emphasized that its decision does not mean that the technology of blockchain or cryptocurrency does not represent values as an investment instrument.

As a recent stable growth

The event should not be critical to affect the emerging upward trend, due to the fact that the decisions on CBoe, Vaneck, Solidx and BitWise applications are still not accepted. In addition, the regulator asked for more time to explore the offer of DIREXION INVESTMENTS. The largest hopes of the market imposes on the Bitcoin-etf of the Chicago Exchange Exchange.

While the Exchange is achieved by Crypto-ETF approval, co-founder