The U.S. Securities and Exchange Commission (SEC) has announced they will postpone its review of investment firm Direxion’s Bitcoin exchange-traded fund (ETF) until September 21, according to an official document released by the U.S. Government Publishing Office.
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“The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change,” the SEC stated.
“Accordingly, the Commission […] designates September 21, 2018, as the date by which the Commission shall either approve or disapprove the proposed rule change[.]”
The price of the first and largest cryptocurrency persisted to climb Tuesday even after the adverse news, rising more than six percent, to $8,212.56 at press time.
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