SEC commissioner concerned about US lag behind global bitcoin ETFs
The US Securities and Exchange Commission (SEC) Hester Peirce has expressed concern that the US is lagging behind global jurisdictions in adopting exchange-traded funds (ETFs) in cryptocurrency.
During an internet look on the Bitcoin (BTC) convention “The B Word”, Peirce famous that many different international locations reminiscent of Canada have beforehand traded in crypto ETFs whereas the US remains to be deciding what to anticipate from a trading instrument. :
“I never thought I’d be in this situation where we haven’t approved one thing and the other countries are moving forward.”
The SEC commissioner additionally responded to issues that U.S. regulators may overestimate their remittances by forcing the native crypto trade to gamble on a extra segregated algorithm.
“We’re not a performance regulator so we shouldn’t be deciding whether something is good or bad, an investor thinks about their entire portfolio and sometimes we think about some of their own product-specific terms and we forget that people are building.” Portfolios ” she notes.
Peirce’s recent comments are in line with her recent criticism of U.S. crypto regulation when the SEC commissioner once again urged authorities to refrain from overregulation efforts last month. Despite calling for a softer regulatory stance on cryptocurrencies, the commissioner still believes that clear crypto rules are vital to the flourishing of the industry without fear of breaking the law. Peirce has been a long-time crypto advocate and is referred to by many as the “crypto mom” in the crypto community.
Connected: Global X Fund Management Company registered with the SEC for a Bitcoin ETF ETF
As previously reported, US regulators have recently postponed several approvals for crypto ETFs after repeatedly delaying such decisions in recent years. Meanwhile, several countries around the world have approved or introduced trading in Bitcoin ETFs, with the Bitcoin ETF from 3iQ and CoinShares set to appear on the Toronto Stock Exchange in April. Canadian fund managers such as Purpose Investments and Evolve Funds Group have previously started trading Bitcoin ETFs.