(Bloomberg) -- The U.S. securities regulator raised aseries of investor protection concerns about cryptocurrency mutual and exchange-tradedfunds, the strongest sign yet that the world’s biggest market isn’tlikely to see the products any time soon.
In a letter to two leading industry groups on Thursday, theSecurities and Exchange Commission asked a number of questions ontopics including the risks of manipulation, whether funds couldaccurately value the volatile products, and how they’d meet demandsto redeem virtual currency.
It’s hardly the welcome that cryptocurrency enthusiasts werehoping for.
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