SEC wants Bitcoin to register with agency

Bitcoin fell Wednesday, dropping below the key $10,000 level after the Securities and Exchange Commission said it will require digital asset exchanges to register with the agency. The statement referred to digital assets that are considered securities.

The largest cryptocurrency by market capitalization dropped nearly 10 percent on Coinbase in a sudden move after the SEC statement stoked fears that tightening regulation could restrict future trading. Bitcoin fell to near $9,500 but had recovered slightly to $9,969 as of 5:08 p.m. ET.

Securities and Exchange Commission wants Bitcoin to register as digital assets with agency. After this statement Bitcoin surged below $10000 on Wednesday. I don’t know whether it will be safe for investors or not. But one thing I can understand that government wants to regulate digital assets anyhow.

Bitcoin dropped below $10,000 just because of investor’s fear of government regulations which are slowly going to tighten the crypto transaction. And in future, government may implement so many restrictions on digital assets which may cause lowering the value of virtual coin.

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