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The U.S. Securities and Exchange Commission rejected the first U.S. ETF tracking bitcoin in March after a three-year review process, but a month later the regulator said it would revisit the ruling.
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“It was more, ‘it’s bitcoin, it’s still a little funky, let’s wait,'” she said at an ETF event in Washington DC hosted by the SEC and New York University.
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1. So far, we haven’t received order from regulatory authorities and not in a position to confirm the authenticity of the news. 2. As a company based in China, BTCC’s basic principle is to comply with local regulatory policy. If the report is true, we will firmly support the policy and protect the customer’s asset security. 3. The report mentions that Bitcoin is not considered as illegal by the authority and p2p trading between users are not banned. If the report is true, BTCC will stop current BTC/CNY trading and transform into a p2p trading platform for digital assets.
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It is still unsure whether the report of Caixin on the ban on bitcoin exchanges is accurate and if the Chinese government is considering imposing a temporary suspension on its local trading platforms. However, the Chinese market has shown that it does not necessarily perceive the suspension as a threat.