RATE Group | Bitcoin thrown lifeline by SEC Commissioner despite ETF rejection
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Bitcoin thrown lifeline by SEC Commissioner despite ETF rejection

27 Jul Bitcoin thrown lifeline by SEC Commissioner despite ETF rejection

Posted at 09:16h in Bitcoin News by

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Exchange-traded funds (ETFs) for Bitcoin are back in the news again this week. Yet another application submitted by Bitcoin BTC billionaires, the Winklevoss twins, has been shot down by the US Securities and Exchange Commission (SEC).

This is their second attempt to be rejected by government regulators – the pair waited over a year for the SEC to make another ruling. To date, no cryptocurrency-based ETFs have been approved, making this a major hurdle on the way to widespread adoption by Wall Street.

But all hope might not be lost – the SEC’s commissioners are not uniform in their disapproval. An official dissent to the ruling has even been registered – effectively arguing that Bitcoin is being unfairly singled out for over-regulation.

Commissioner Hester M. Peirce wrote the following in a lengthy public statement, posted this morning:

I am concerned that the Commission’s approach undermines investor protection by precluding greater…

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