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XBT AB supplier clarifies after SEC Crackdown on its bitcoin cryptography and Ether!
The crackdown on the Securities Exchange Commission (SEC) on digital affiliated businesses has captured a good number of off-guard market participants. XBTPROVIDER, a Swedish company based in CoinShares, has issued a clarification after the SEC has discontinued its products; Bitcoin Tracker One and Ether tracker One from the US market. The two securities are currently listed on the Stockholm Nasdaq market and are still being negotiated; XBT Provider AB has made it clear that the only jurisdiction concerned is the United States.
According to the version, XBT Provider believes that the action to stop the trading of Bitcoin & Ether tracking certificates was caused by a probable confusion. The SEC completeness standard on the description of digital resources is something that XBT Provider was still missing.
In his defense, the XBT Provider claimed that they had not acquired licenses to sell their securities in the US market. Therefore, it was not their obligation to provide information on traceability certificates to the US market. However, the team acknowledged that they understood that the rule of the ESA Regulation 15c2-12 implies that market makers who emit this type of digital resources are responsible for providing information on actions.
A brief description of XBT Provider AB [19659003] As mentioned earlier, XBT Provider AB (Publ) is based in Sweden and operates within the financial market space. The activities and products of the company take advantage of the new cryptocurrency technology as being at the forefront. XBT Provider AB has released a couple of certificates created to track the performance of the underlying digital asset. For example, the Bitcoin Tracker One (COINXBT: SS) tracks the performance of the BTC coins while the Euro Ether Tracker monitors euro statistics.
The year 2015 marked a major milestone for the Stockholm Nasdaq exchange after the integration of crypto-affiliated assets into its market. Bitcoin Tracker One has become the pioneer of BTC that could be exchanged on a recognized exchange. On the other hand, Ether Tracker One has been a pioneer of Ether reference actions that will be exchanged in the future with blockchain and crypt in the decade!
XBT Provider operates in the Swedish law; The company's prospectus has been approved by the local regulator & # 39; Swedish Financial Supervisory Authority & # 39 ;. This does not mean that the licenses of the entity are proportional to the provision of financial advice. The XBT supplier through its board of directors has clarified that the company is only an intermediary and therefore can not provide any cryptocurrency advice.
In addition to the aforementioned sentiments, the XBT supplier also stated that the reference cryptographic coins are underlying; Bitcoin and Ether are both highly volatile. It follows that investors would expect as much movement in the price of certificates as the shift of BTC or Ether. Investors should carefully analyze their positions and the amount of risk they can host before joining the XBT supplier wagon. Also, reading the XBT supplier's prospectus before joining would help you understand what risks the investment is connected to.
What investors need to understand about the nature of XBT supplier certificates is that they do not claim any underlying digital assets. Conversely, investment changes based on price action on the market, that is, movements in the Forex and Crypto markets that affect affiliated currencies.
The return on investment of XBT certificates is very different from the concept of investing directly in shares and paying dividends. These encrypted resources depend on the performance of Bitcoin and Ether, which means that they operate based on the gain in value rather than in terms of interest. Finally, the (certified) shares provided by XBT are non-subordinated, unprotected and not main protection
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