The Securities and Exchange Commission rejected a second attempt by Cameron and Tyler Winklevoss, founders of crypto exchange Gemini, to list the first-ever cryptocurrency ETF on a regulated exchange.
The U.S. financial watchdog has yet to approve a cryptocurrency-based ETF and in the release Thursday highlights issues with security, market manipulation and investor protection issues.
Bitcoin fell below $7,900 following the news after hitting a two-month high this week, which was partially fueled by rumors that the SEC could approve a similar trading vehicle as early as August.
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