The SEC, the regulator of the American financial markets, recently made an announcement which caused a drop in the price of Bitcoin. The regulator has indicated that it wishes to carry out a regulatory review of virtual currency trading platforms which present themselves as exchange services.
Concretely, the SEC has quite the possibility of carrying out investigations and intervening with these platforms which offer a foreign exchange service. And the regulator thinks there are some big files, especially against the background of potentially illegal trade.
The SEC thus recalls the obligation for platforms to register with it as soon as they offer a foreign exchange service. This registration is surrounded by the adoption of a set of measures and compliance with regulations which guarantee the security of exchanges and respect for the user.
The statement immediately dropped the value of Bitcoin by 9%, other cryptocurrencies were also impacted by the announcement.
It must be said that the announcement is quite ironic, since these virtual currencies were precisely widely adopted originally by users no longer wishing to trust the standard system or government regulators.
The SEC indicates that currently some of the platforms that appear to be in good standing with the regulator are not.