At the Digital Asset Investment Forum held in Washington on December 5, a representative from the US Securities and Exchange Commission (SEC) recommended not waiting for a decision on the Bitcoin ETF.
Hester Pierce, nicknamed "Crypto Mom" for her opposition to the SEC's decision to refuse to accept Bitcoin-ETF proposed by Cameron and Tyler Winklevoss, believes that the approval of cryptocurrency or Bitcoin ETFs may take years.
Perhaps they will be allowed in 20 years, and perhaps tomorrow. The SEC took a long time to create Finhub. Approval of exchange-traded products could take even longer.
Pearce is also trying to convince his colleagues to "be less judgmental" about accepting cryptocurrencies.
I think we need to encourage institutionalization in the crypto space. It's not what people in the community want, but I think there are investors in the institutional sector who want to get into that community. And the best way for individual investors to get into this space is to make it more institutionalized.
Pierce believes that people should follow the law, but government also has a responsibility to ensure that regulation doesn't impede new or innovative ideas.
“I want to make sure that the door for innovation is open wide enough that it's not too constrained by regulation,” she said.
In a recent interview, SEC Chairman Jay Clayton refrained from giving any specific timeline for adoption Bitcoin ETF, but confirmed that some issues of concern to the regulator remain unresolved.
According to cointelegraph.com
You May Also Like
The US IRS is preparing to shake up crypto traders
Accounting firm NODE40, which specializes in calculating digital currency earnings and developer of Bitcoin tax reporting software, expects the U.S. Internal Revenue Service (IRS) to send out a record number of cryptocurrency-related claims as it believes many investors will decide to declare their losses.
In Japan, the crypto industry has received the status of a self-regulatory industry
The Japanese Financial Services Authority (FSA) has delegated the powers to monitor and sanction the crypto industry to a group of 16 licensed crypto exchanges, which has been legally recognized as a self-regulatory body.
