RATE Group | Latest Bitcoin Drop Proves SEC’s ETF Concerns: Chervinsky
63276
post-template-default,single,single-post,postid-63276,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Latest Bitcoin Drop Proves SEC’s ETF Concerns: Chervinsky

26 Sep Latest Bitcoin Drop Proves SEC’s ETF Concerns: Chervinsky

Posted at 14:17h in Bitcoin News by

[ad_1]

The US Securities and Exchange Commission (SEC) is right about their decision to reject bitcoin exchange-traded funds, believes Jake Chervinsky of San Francisco-based Compound Finance.

The general counsel on Thursday said the US securities regulator has valid concerns about bitcoin’s price volatility. He referred to the cryptocurrency’s latest price drop, wherein it plunged by as much as 20 percent in the matter of a few days. Chervinsky cited reports that showed how unregulated cryptocurrency exchanges operating outside the US played a crucial role in crashing bitcoin.  It is the same concern that made the SEC hesitant to allow an ETF focused on a mostly unregulated Bitcoin market to make its way to the public.

“Bitcoin drops 20% over a few days; there’s no simple explanation for why; the drop made big money for offshore unregulated margin trading platforms; trading on those same platforms might’ve caused the drop in the first place; you’re still wondering why the SEC has…

[ad_2]

Source link

Tags:
, , , , , , ,