Crypto Prices Fall Sharply after SEC Postpones Bitcoin ETF Decision
Bitcoin, which now makes up to 80% of all online gambling transactions. dipped again on Wednesday following news that the U.S. Security and Exchange Commission (SEC) will postpone the decision on approving what would be the first-ever Bitcoin ETF, which was issued by VanEck SolidX Bitcoin Trust.
The SEC said it needs a more prolonged period to review the more than 1300 comments that have come in regarding the proposal.
The decision must be reached by September 30, 2018 with the SEC designating a new date of September 21, 2018.
The SEC recently rejected a proposal by Tyler and Cameron Winklevoss to launch a Bitcoin ETF.
The price of Bitcoin had dropped from just under $7000 late Tuesday to around $6200 on Wednesday afternoon.
- Aaron Goldstein, Gambling911.com
