Securities and Exchange Commissioner (SEC) Hester Peirce\u00a0voiced concerns over the United States lagging behind global jurisdictions in adopting cryptocurrency exchange-traded funds (ETF).<\/p>\n
During an online appearance at the Bitcoin (BTC) conference \u201cThe B Word,\u201d Peirce pinpointed that many other countries like Canada have already been trading crypto ETFs so far, while the U.S. is still deciding on whether to approve such a trading instrument, stating:<\/p>\n
\u201cI would never have imagined that I would be in this situation where we would not yet have approved one and other countries are moving ahead.\u201d<\/p><\/blockquote>\n
The SEC Commissioner also mentioned her concern that the U.S. regulators could be overstepping their remit by forcing the local crypto industry to play by a separate set of rules than anyone else.<\/p>\n
\u201cWe\u2019re not a merit regulator, so we shouldn\u2019t be in the business of deciding whether something is good or bad, an investor is thinking of their entire portfolio, and sometimes we\u2019re thinking in one-off terms of a particular product standing on its own, and we forget that people are building portfolios,\u201d she noted.<\/p>\n
Peirce\u2019s latest remarks come in line with her recent criticism of the U.S. crypto regulation as the SEC Commissioner last month once again urged authorities to refrain from their efforts to overregulate the crypto industry. Despite calling for a softened regulatory stance on crypto, the Commissioner still believes that clear crypto rules are critical for the industry to thrive without fear of breaking the law. A long-running crypto advocate, Peirce is widely referred to as \u201cCrypto Mom\u201d in the crypto community.<\/p>\n
Related: <\/em><\/strong>Fund management firm Global X files with the SEC for a Bitcoin ETF<\/em><\/strong><\/p>\nAs previously reported, the U.S. regulators have delayed multiple approvals on crypto ETFs recently after consistently postponing such decisions over the past several years. In the meantime, some countries worldwide have already approved or launched Bitcoin ETF trading, with 3iQ and CoinShares\u2019 Bitcoin ETF going live on Toronto Stock Exchange in April. Canadian fund managers like Purpose Investments and Evolve Funds Group previously launched Bitcoin ETF trading as well.<\/p>\n
Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Securities and Exchange Commissioner (SEC) Hester Peirce\u00a0voiced<\/p>\n","protected":false},"author":3,"featured_media":133145,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\n
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