Bitcoin Dips Below $10,000 Amidst New SEC Regulations

Requiring that online digital trading agencies must register with the Securities and Exchange Commission, Bitcoin dipped below $10,000. The cryptocurrency, now valued at $9,684, was last below this marked in late February, making it the fifth time it has fallen below this mark in 2018.

The SEC stated,

“If a platform offers trading of digital assets that are securities and operates as an ‘exchange,’ as defined by the federal securities laws, then the platform must register with the SEC as a national securities exchange or be exempt from registration.”

“The SEC staff has concerns that many online trading platforms appear to investors as SEC-registered and regulated marketplaces when they are not. Many platforms refer to themselves as “exchanges,” which can give the misimpression to investors that they are regulated or meet the regulatory standards of a national securities exchange.”

This announcement comes after the SEC sent subpoenas to Initial Coin Offerings (ICOs) who were potentially “raising money for businesses that don’t even exist,” as well as violating other security laws.

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Author: Luke Henderson

Since joining the Libertarian Party in 2016 (after discovering Gary Johnson as a disaffected Bernie Sanders supporter), Luke Henderson has been active in the liberty movement through journalism, and political activism. At the beginning of 2017, Luke had his first piece of writing published by Being Libertarian and quickly became a contributor to the libertarian news site, The Libertarian Vindicator. Through the Vindicator, Luke discovered his passion for addressing critics of the philosophy and bringing together different factions of liberty lovers which compelled him to become an editor for The Libertarian Coalition, a forum dedicated to an open-minded discussion of libertarian ideas from all walks. After many guest contributions to Being Libertarian, Luke was asked to join the website as a contributor, where he writes his column Scoring For Liberty, which discusses sports, politics, and economics from a libertarian lens, and his Educator series that seeks to strengthen libertarian’s understanding of educational techniques and policy to better arguments against public education. Luke is one of the District 1 Executive Committeemen for the Missouri Libertarian party, and the founder of the Missouri Chapter of the Libertarian Positivity Caucus. Outside of politics, Luke is a paraprofessional for the Special School District of St. Louis, a musician, composer, and a loving husband and father.

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