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Bitcoin Snaps Slide as Crypto Markets Dodge Push for Regulation

  • Digital coins have still lost $500 billion in value since peak
  • SEC chairman says that all ICOs are securities during hearing
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Banking Backlashes, Govt. Regulations Hit Bitcoin
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Bitcoin rose for the first time in six days, snapping a losing streak that had helped push overall losses in digital currencies to about $500 billion, as the top U.S. market cops said they possessed all the authority needed to regulate and risk appetite returned to financial markets.

Prices steadied as Securities and Exchange Commission Chairman Jay Clayton reiterated in a Congressional hearing that he believes every initial coin offering he’s seen is a securities sale and the agency already possesses the regulatory oversight needed for enforcement.