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US SEC Ruling on Bitcoin to be Reviewed

August 24, 2018 August 24, 2018 David Nugent

It has been reported that the US Securities and Exchange Commission more commonly known as the SEC has chosen to reject a total of 9 applications that have been made to list Bitcoin as another of the many EFT’s traders can place trades on.

Those EFT’s are simply exchange traded funds, and they are any form of marketable securities that can be tracked by an index and allow traders to legally, once the SEC has given the green light to them, to place trades on whether they think their values are going to rise or fall.

However, it has just been announced that the SEC are going to review their decision, so there is a slight glimmer of hope that the review could see Bitcoin become a listed EFT in the very near future, however not many traders are pinning their hopes on them becoming a legal EFT it does have to be said!

This current situation regarding Bitcoin does remind me of the time when online gambling was a legal grey area in the US, and it has taken well over 20 years for the USA to now put into place an infrastructure that allows online gambling to take place in some US States, but let’s hope it isn’t going to take that long for Bitcoin to become an EFT!

Just another Day on the Trading Platforms

To be perfectly honest, the SEC decision was not an unexpected one, and most traders expected the decision of list Bitcoin as an EFT was always going to be rejected.

As such there has been no noticeable decrease regarding the value of Bitcoin, and it is just like any other day on the trading platforms currently with small gains and losses being seen as the day progresses.

Overseas Based Forex Brokers

As the US does continue to dither regarding Bitcoin, there are a large number of overseas and offshore based Forex Brokers that are offering a range of different trading opportunities to their clients on the value of Bitcoin.

Those sites however can be very risky ones to trade at, especially those that do not have any type of trading license, and as such even if you are tempted to trade on the value of Bitcoin from the USA at such a broking site you need to select the ones you do trade at very carefully to ensure you are never ripped off!

About The Author

David Nugent

Editor

Hi, my name is David and I am the chief editor of legaltradingreport.com, I am proud to bring you all latest legal matters concerning the trading industry be it forex or binary even the hot new kid on the block Crypto..

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