RATE Group | Another Bitcoin ETF Application Dismissed by SEC – Cryptocurrency Regulation
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Another Bitcoin ETF Application Dismissed by SEC – Cryptocurrency Regulation

03 Mar Another Bitcoin ETF Application Dismissed by SEC – Cryptocurrency Regulation

Posted at 19:09h in Cryptocurrency News by

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Another Bitcoin ETF Dismissed by SEC

It seems a Bitcoin ETF happening this year is no longer feasible. The United States Securities and Exchange Commission (SEC) has once again thrown out another application.

Wilshire Phoenix and NYSE Arca Bitcoin ETF application, the last remaining proposal with the SEC, has been rejected. The SEC in a Wednesday post announced the rejection stating that NYSE Arca is yet to sufficiently prove that the Bitcoin market is resistant to market manipulation.

The regulator said, “NYSE Arca has not established that the relevant Bitcoin market possesses resistance to manipulation.” Adding that it is unique beyond that of traditional security or commodity markets such that it is inherently resistant to manipulation.”

Crypto Mom unhappy with SEC

SEC Commissioner Hester Peirce expressed her disagreement in the SEC announcement. Adding that the SEC was intentionally rejecting the proposals without giving them the opportunity to clear all reasonable doubts.

She said that this “Commission is…

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