SEC Commissioner Criticizes Bitcoin Policy: A Surprising Reaction from Within the Agency!

  • SEC official Hester Peirce criticizes the agency’s unclear stance on spot Bitcoin ETF standards.
  • Peirce argues that the regulatory uncertainty in the US harms investors and calls for clarity.
  • Peirce suggests that the SEC’s approach to spot Bitcoin ETFs is inconsistent with its approach to other products.

SEC Official Criticizes SEC’s Unclear Stance on Bitcoin ETFs

In a recent interview, Hester Peirce, an official from the US Securities and Exchange Commission (SEC), expressed criticism towards the agency’s approach to spot Bitcoin exchange-traded funds (ETFs). Peirce described the SEC’s methods regarding cryptocurrency regulation as confusing and disappointing. She also emphasized the need for clarity in order to protect investors in the US.

Regulatory Uncertainty and Challenges

Peirce highlighted the various challenges faced in regulating the cryptocurrency industry, particularly in relation to spot Bitcoin ETF applications that have recently gained attention. She suggested that the SEC’s standards in this area seem to be inconsistent and not aligned with its approach to other products. Peirce expressed her inability to understand the reasons behind the rejections of these applications:

“I cannot understand the reasons for our rejections based on the facts and circumstances that I see.”

Call for Consistency and Clarity

Peirce pointed out that there are spot Bitcoin ETFs approved in jurisdictions outside the US, as well as various futures-based Bitcoin ETFs trading within the country. She emphasized the importance of consistent standards for products traded on the Bitcoin market:

“The standards we apply to products traded on the Bitcoin market should be consistent with our approach to similar products.”

Recently, Valkyrie Investment, an asset management company, updated and resubmitted its spot Bitcoin ETF application, following similar moves by BlackRock and Fidelity.

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Gideon Wolf
Gideon Wolfhttps://en.coinotag.com/
GideonWolff is a 27-year-old technical analyst and journalist with extensive experience in the cryptocurrency industry. With a focus on technical analysis and news reporting, GideonWolff provides valuable insights on market trends and potential opportunities for both investors and those interested in the world of cryptocurrency.
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