SEC say crypto exchanges must register.

Bitcoin just tanked below $10,000 after SEC says crypto exchanges must register with agency

  • The SEC said in a statement Wednesday that online platforms trading digital assets that are considered securities need to register with the agency.
  • Bitcoin quickly fell 10 percent to below $10,000 amid the concerns about increased regulation.
  • “The SEC continues to draw a line in the sand between securities and non-securities but without going so far as to name names,” said Spencer Bogart, partner at Blockchain Capital. But “of all crypto assets, bitcoin seems least likely to be deemed a security — by a long shot.”

Bitcoin drops after SEC demands platforms should be registered  

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.