Tag Archives: Halts

SEC halts trading in two cryptocurrency products, citing market 'confusion'
September 10, 2018 12:00 am|Comments (0)

NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Sunday it was immediately suspending trading in two investment products that track cryptocurrencies, citing confusion in the markets over whether the products are exchange-traded funds (ETFs).

FILE PHOTO – High-end graphic cards are installed in a cryptocurrency mining computer at a computer mall in Hong Kong, China January 29, 2018. REUTERS/Bobby Yip/File Photo

The SEC said in a statement that trading in Bitcoin Tracker One CXBTF.PQ CXBTF.PK and Ether Tracker One CETHF.PQ CETHF.PK will be halted in the United States until at least Sept. 20.

The products promise to track the price of the cryptocurrencies, less fees. They are both listed on a Nasdaq Inc (NDAQ.O) exchange in Stockholm, Sweden, but trade “over the counter” in transactions that occur off exchanges within the United States.

“It appears … that there is a lack of current, consistent and accurate information,” the SEC said in a notice posted on its website. “Application materials submitted to enable the offer and sale of these financial products in the United States, as well as certain trading websites, characterize them as ‘Exchange Traded Funds.’”

The issuer of Bitcoin Tracker One and Ether Tracker One, XBT Provider AB SE0010296574.ST and its parent company, did not immediately respond to emailed requests for comment. Nasdaq also did not immediately respond for comment.

The SEC has taken a strict stance against letting ETFs tracking bitcoin and other cryptocurrencies come to market.

But investment firms have been pushing other types of investments that attempt to make it as easy to trade cryptocurrencies as a regular stock.

Those products are sometimes called ETFs, but that term generally refers to a different and often more stringently regulated product. Some industry experts, including the largest ETF provider BlackRock Inc (BLK.N), have called for regulators to standardize the terms used to describe ETFs and other kinds of investment products.

Virtual currency, including bitcoin and ether, can be used to move money around the world quickly and with relative anonymity, without the need for a central authority, such as a bank or government. A fund holding the currency could attract more investors and push its price higher.

Reporting by Trevor Hunnicutt; Editing by Peter Cooney and Will Dunham

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Nvidia temporarily halts self-driving tests globally: source
March 27, 2018 6:05 pm|Comments (0)

(Reuters) – Chipmaker Nvidia Corp said on Tuesday it has suspended self-driving tests across the globe, a week after an Uber Technologies Inc [UBER.UL] autonomous vehicle hit and killed a woman crossing the street in Arizona.

A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake

The company’s shares reversed course in afternoon trading after the news and were down 4 percent at $ 234.50, wiping out nearly $ 6 billion in market value.

“We are temporarily suspending the testing of our self-driving cars on public roads to learn from the Uber incident,” a company spokesman said.

“Our global fleet of manually driven data collection vehicles continue to operate.”

Uber suspended North American tests of its self-driving vehicles after the fatal collision on March 18 in Tempe, Arizona.

The incident has raised questions about the safety of autonomous technology in general, and of Uber’s system specifically.

Nvidia is testing its technology globally including in New Jersey, Santa Clara, Japan and Germany.

Reuters earlier on Tuesday reported about the test suspension, citing a source.

“Nvidia has no choice but to take steps in the context of the fear, uncertainty and outrage likely to be stimulated by a robot car killing a human being,” Roger Lanctot, an automotive technology analyst with Strategy Analytics, wrote in a blog post bit.ly/2GaIBCN on Tuesday.

“This is precisely the type of event that is capable of slaying a nascent industry in the crib,” Lanctot wrote.

Nvidia leads the autonomous industry with its artificial intelligence platform and has partnered with major global automakers such as Volkswagen AG (VOWG_p.DE), Tesla Inc and Audi AG.

Uber has been using Nvidia’s computing technology since its first test fleet of Volvo SC90 SUVS were deployed in 2016.

Around 320 firms involved in self-driving cars – from software developers, automakers and their suppliers, sensor and mapping companies – use Nvidia Drive platform, according to the company’s website.

Reporting by Alexandria Sage in San Fransisco and Sonam Rai in Bengaluru, Additional reporting by Supantha Mukherjee in Bengaluru; Editing by Sriraj Kalluvila

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Nvidia halts self-driving tests in wake of Uber accident
March 27, 2018 6:01 pm|Comments (0)

(Reuters) – Chipmaker Nvidia Corp said on Tuesday it has suspended self-driving tests across the globe, a week after an Uber Technologies Inc [UBER.UL] autonomous vehicle hit and killed a woman crossing the street in Arizona.

A NVIDIA logo is shown at SIGGRAPH 2017 in Los Angeles, California, U.S. July 31, 2017. REUTERS/Mike Blake

The company’s shares reversed course in afternoon trading after the news and were down 4 percent at $ 234.50, wiping out nearly $ 6 billion in market value.

“We are temporarily suspending the testing of our self-driving cars on public roads to learn from the Uber incident,” a company spokesman said.

“Our global fleet of manually driven data collection vehicles continue to operate.”

Uber suspended North American tests of its self-driving vehicles after the fatal collision on March 18 in Tempe, Arizona.

The incident has raised questions about the safety of autonomous technology in general, and of Uber’s system specifically.

Nvidia is testing its technology globally including in New Jersey, Santa Clara, Japan and Germany.

Reuters earlier on Tuesday reported about the test suspension, citing a source.

“Nvidia has no choice but to take steps in the context of the fear, uncertainty and outrage likely to be stimulated by a robot car killing a human being,” Roger Lanctot, an automotive technology analyst with Strategy Analytics, wrote in a blog post bit.ly/2GaIBCN on Tuesday.

“This is precisely the type of event that is capable of slaying a nascent industry in the crib,” Lanctot wrote.

Nvidia leads the autonomous industry with its artificial intelligence platform and has partnered with major global automakers such as Volkswagen AG (VOWG_p.DE), Tesla Inc and Audi AG.

Uber has been using Nvidia’s computing technology since its first test fleet of Volvo SC90 SUVS were deployed in 2016.

Around 320 firms involved in self-driving cars – from software developers, automakers and their suppliers, sensor and mapping companies – use Nvidia Drive platform, according to the company’s website.

Reporting by Alexandria Sage in San Fransisco and Sonam Rai in Bengaluru, Additional reporting by Supantha Mukherjee in Bengaluru; Editing by Sriraj Kalluvila

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