THE SEC COMMISSIONER HAS CONFIRMED THE INEVITABILITY OF ACCEPTING BITCOIN ETF

Commissioner of the US Securities and Exchange Commission (SEC), Hester Peirce confirmed that the adoption of bitcoin ETF is definitely possible.

The most famous supporter of bitcoin Hester Peirce, also known as “crypto mama”, said that the emergence of bitcoin ETF in the near future is inevitable.

Peirce first won the hearts of crypto-enthusiasts in July 2018, after publicly declaring her disagreement with the decision of the Commission to refuse on issuing permission to run bitcoin-ETF that was proposed by billionaires and founders of the Gemini exchange —the Winklevoss brothers.

During the podcast, Peirce again opposed the SEC’s widespread belief that bitcoin is not mature enough, respectable and regulated technology. According to her, the SEC has a specific mandate and authority to create a bitcoin supporting regulatory framework. She believes that the SEC should develop a regulatory framework that allows such innovations to develop rather than limit them.

Peirce also said that the Commission has taken a number of specialist-consultants in the field of cryptocurrency, who insisted the agency to adopt a cautious and moderate approach in relation to exchange-traded bitcoin fund.

Pierce also noted that although all the applications for crypto-ETF registration have been rejected so far, they are still open.

Pierce said that many members of the crypto community were interested in the comments about the time of the final approval of a particular application for bitcoin ETF, but it is almost impossible to give a clear answer to this, since each proposal is evaluated differently due to the presence of each of its distinctive features and drawback. Thus, it is quite difficult to say when a specific bitcoin-ETF launch proposal can be approved by at least three of the five commissioners, because each of them has different points of view as how an exchange-traded investment fund tied to bitcoin should look like.