SEC Commissioner’s Harsh Bitcoin Critique: No Standards in Sight

• Hester Peirce criticizes the inconsistent policy of the SEC regarding spot Bitcoin ETFs.
• Peirce argues that the changing conditions of the SEC’s policy are like a moving target.
• The uncertainty in US crypto regulations is not beneficial for the American people, according to Peirce.

SEC’s Inconsistent Stance on Spot Bitcoin ETFs

During a recent interview with Coinage’s Zack Guzman, Hester Peirce, a member of the SEC, expressed her concerns about the commission’s approach to spot Bitcoin ETFs. According to Peirce, the SEC’s policy in this area lacks consistency, with conditions constantly changing, making it feel like a moving target.

Spot Products Approved Elsewhere

Peirce pointed out that in many other countries, spot products have been approved and have seen significant demand. Logically, she argues, if a futures option for a product is approved, its spot product should also be approved. However, the SEC’s policy on spot Bitcoin ETFs does not follow this logic, leading to a lack of consistency.

Uncertainty in US Crypto Regulations

Peirce also voiced her concern about the lack of clarity in US crypto regulations. She believes that this uncertainty is not in the best interest of the American public. Many experts and average individuals have criticized the SEC, and Peirce herself has often criticized the commission she is a part of. She argues that there is no sensible regulation plan in place, and this situation is causing harm to the American public. She questions why regulations cannot be clear and straightforward.