Share This Story!Let friends in your social network know what you are reading aboutTwitterGoogle+LinkedInPinterestPosted!A link has been posted to your Facebook feed.Federal regulator rejects Winklevoss bid for first bitcoin exchange fundxEmbedCLOSEThe Securities and Exchange Commission Friday rejected a proposal for the first exchange-traded fund that would track the price of the digital currency known as bitcoin.Announced in an order on the regulator's website, the ruling means average investors won't immediately get easier access to bitcoin-related trading.The decision also marks a setback for Bats Global Markets, which proposed the fund, the high-profile Winklevoss brothers, whose bitcoin trust would have been listed and traded, and for the digital currency itself.SEC Bitcoin OrderDebuting in 2009, bitcoin is a decentralized digital currency traded from person-to-person, rather than through banks.It and has no issuing or regulating country.The SEC ruling based the rejection on its finding that "significant markets for bitcoin are unregulated."

As a result, the Bats exchange has been unable to reach security surveillance sharing agreements that would "help address concerns about the potential for fraudulent or manipulative acts and practices," the order said.However, the SEC left open the door to eventual approval of bitcoin-related trading as the digital currency gains increased acceptance and usage.A briefing on bitcoinOver time, "regulated bitcoin-related markets of significant size may develop," the order said."Should such markets develop, the Commission could consider whether a bitcoin" exchange-traded fund would be consistent with the SEC's security requirements.Bitcoin, which had traded as high as $1,325.81 on Friday, plunged roughly 6% to $1,120 shortly after the SEC action, according to CoinDesk.Crytpocurrency bitcoin reaches all-time highBats, which would have hosted the proposed fund's trading on its BZX Exchange operated by CBOE Holdings, is "reviewing the SEC’s notice very intently and will have no further comment," said spokeswoman Hannah Randall.Cameron and Tyler Winklevoss, the brothers who famously argued they had been misled when they agreed to settle their lawsuit that claimed Mark Zuckerberg stole their idea to launch Facebook, could not immediately be reached for comment on the setback to one of their latest financial ventures.Their company website features plans for Gemini, a "fully regulated, fully compliant, New York-based bitcoin exchange for both individuals and institutions alike."Bitcoin

advantages include low exchange fees, no variance in value by country and accounts that cannot be frozen.Unlike paper money, where governments decide how much currency to issue, the digital currency is generated by "miners" who use special software to solve mathematical problems and are then issued bitcoin in exchange.In its comment letter to the SEC, the Bats exchange said increasing strength and resiliency of the global bitcoin marketplace would reduce potential price manipulation of the digital currency.However, other commenters said most bitcoin trading volume is conducted on unregulated exchanges outside the U.S.litecoin yatırımFinancial practices on those exchanges significantly influence the price discovery process for bitcoin, the commenters said.Federal investigators spotlighted one dark side of bitcoin usage with the 2015 criminal trial of Ross Ulbricht, the accused mastermind of Silk Road, the darknet drug-trafficking site that served as an underworld version of eBay for a worldwide network of drug dealers and users.ethereum success stories

All transactions on the site were conducted in bitcoin as part of a bid to avoid identification of buyers and sellers.Silk Road 'darknet' boss found guilty of running massive drug websiteUlbricht was found guilty, and is now appealing his sentence of life in prison.Contributing: Elizabeth WeiseFollow USA TODAY reporter Kevin McCoy on Twitter: @kmccoynycbitcoin bg euJump to: , First examples of bitcoins being accepted for various goods and services and other notable first occurrences.ethereum bettingSee discussion for more regarding what is suitable here.bitcoin mining 2017 profitabilityAn Illinois man has filed a class-action lawsuit against MtGox, alleging consumer fraud, negligence, breach of fiduciary duty, and breach of contract, among other allegations.bitcoin core documentation

The case appears to be the first such class-action suit filed in the United States against the failed Bitcoin exchange.MtGox filed for bankruptcy protection in Japan on Friday.bitcoin new york attorney generalIn a 32-page filing submitted Thursday to the Northern District of Illinois, Gregory Greene says that he first encountered MtGox in late 2011 and signed up for an account.6 ths bitcoin minerGreene, like many others, attempted to withdraw his bitcoins from MtGox once the company announced that it had sustained a massive security breach.chơi bitcoin là gìHowever, given the company’s sudden shutdown and subsequent application for bankruptcy protection, Greene was unable to do so.The lawsuit defines members of the class as “[a]ll persons in the United States who had bitcoins or Fiat Currency stored with Mt.

Gox on February 7, 2014," which the filing speculates could be hundreds of thousands of people.MtGox CEO Mark Karpeles did not respond to Ars’ request for comment concerning the lawsuit.Greene’s court filing states that had he known of the company’s “substandard security procedures that left his bitcoins vulnerable to theft, he would have paid substantially less for Mt.Gox’s services or would not have paid at all.” The document continues: Worse yet, at the time Mt.Gox shut down, Greene had used Mt.Gox’s services to store and protect bitcoins with a present value of approximately $25,000 dollars.Despite his repeated attempts, Greene has been unable to withdraw his money from Mt.Gox since early February 2014.Prior to February 7, 2014, Plaintiff’s bitcoins had a market value of nearly double their value following Mt.Gox’s prohibition on withdrawals and eventual shutdown, which undeniably caused a sharp decline in the market value of bitcoins.While this represents possibly the first such suit against MtGox in the United States, there are other lawsuits currently pending that allege shady dealings by other Bitcoin-related companies, including one targeting Butterfly Labs, a Kansas-based manufacturer of Bitcoin miners.