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October 4, 2022
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Hester Peirce (SEC) commented on the Bitcoin ETF –

SEC Commissioner Hester Peirce shared her thoughts on the possibility of creating a Bitcoin exchange fund (ETF) on the US market. In a new interview with Thinking Crypto criticized the SEC’s actions to date in this regard.

Peirce on Bitcoin ETF

Peirce said that while she understood the government’s hesitations to create a bitcoin ETF, she believed that being too cautious in this case could result in the US losing its economic advantage over other markets.

– The real question is, will trading stock products in our markets work? And whether there are actually phenomena that we are worried about now (…). These are legitimate questions and I understand that this is it [tj. BTC] new asset class. We all try to get a good idea of ​​how it works, but at some point it is enough to take a step forward and say, “OK, let’s allow it” – she said.

Then came the topic of ETF BTC in Canada.

– You mentioned the listed products that are now traded in Canada. They decided they could go ahead. I don’t know what their standards are – they may be different from ours – but we also see many other types of products with which people can access Bitcoin – she said. – Things are moving forward and I don’t want to wait too long because that’s when it becomes much more important who comes first. If you wait really long, this case will get complicated – she added.

Will we wait a little longer for the BTC ETF?

However, Peirce says she is somewhat isolated in her thinking about BTC. It also claims that the standards the SEC has applied in determining whether to approve the Bitcoin ETF are not consistent with the degree of supervision to which other similar assets have been subject.

One of the things we talked about is that we want to better understand the underlying markets. We want to know if there is some kind of regulatory oversight over these markets She explained. – I believe that we really need to apply the same kind of standards that we would apply to any other similar product – she added.

We wrote more about whether the SEC will agree to the creation of a bitcoin ETF here.

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