The U.S. Securities and Exchange Commission (SEC) once again rejected a Bitcoin exchange traded fund. After that, one of the agency's commissioners expressed his open opposition to this move.
SEC Refusal
On Wednesday, the SEC rejected the rule change offered by NYSE Arca, which would allow the listing and trading of US Bitcoin and Treasury Investment Trust from New York-based Wilshire Phoenix. As in the past, the agency showed fears of market manipulation and lack of supervision agreements for this decision.
SEC Commissioner Hester Peirce stated that he disagreed with other commission members when SEC rejected a rule change proposal that could allow the listing of the Winklevoss Bitcoin Trust product on the Bats BZX Exchange in the summer of 2018.
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Peirce stated that he did not have the same thoughts as the commission regarding the final rejection of the SEC. Peirce, who we also know as a crypto mother, said that the Commission once again rejected a rule change that would allow American investors to access Bitcoin through a product listed and listed on a national stock exchange that is subject to the legal framework of the SEC. stated and made the following statement:
This proposal is the latest in SEC's long disapproval of Bitcoin related products. This disapproval series makes me decide that the Commission does not want to approve any list of products that will provide access to the market for Bitcoin. Therefore, I think the SEC cannot comply with ever-changing standards regarding applications for Bitcoin products.
Crypto Mother
Peirce, one of the rare names in the SEC that supports Bitcoin and cryptocurrencies, said in the previous statements, "We should offer people who are interested in this industry to have a chance to get involved with it and ensure that it is in an organized framework." Using his expressions, he once again claimed the crypto money
