SEC Commissioner Finds Erroneous Rejection of BTC ETF by Winklevoss Brothers

Debate continues over the SEC's rejection of the Bitcoins ETF (BTC) proposed by the Winklevoss brothers months ago. Now, it turns out that Commissioner Hester Peirce recently said that the authorities' decision was not unanimous and proceeded to the publication of a disapproved dissent.

As we discussed earlier in CoinCrispy, this week the SEC rejected for the second time stock exchange for the bitcoin (ETF) of the Winklevoss brothers

The decision was made after the Announces that the company CBOE Global Markets Inc. where the ETF was included did not demonstrate that the bitcoin market on which it would focus would be safe and free from manipulation.

The Commission went on to point out that its decision should not be considered a criticism of cryptocurrencies and blockchain, but rather the fact that the application received 3 negative votes against 1 in favor of and on behalf of Hester Maria Peirce, a lawyer specializing in the regulation of the financial markets, who not only voted for ETF to be included in the BATS BZX trade but issued a dissent in which she explains what which follows:

] The order of disapproval focuses on the characteristics of the market for bitcoin, rather than on the ability of BZX according to its own rules to monitor trading and avoid manipulation in the shares of ETF cited and agreed upon commercially.

Similarly, he added:

Historically, the Commission's mission has always been to ensure that investors have the information they need to make smart, informed decisions. that trading rules are designed to provide transparency and prevent tampering when participants interact with each other.

Hester notes that The position of the SEC gives him a skeptical view of the innovations and the fearfulness of any commercial proposal likely to jeopardize the protection of investors, as well as " l. efficiency, competition and training of

We can conclude with the hope that the Winklevoss brothers should convince more members of the Commission of the effectiveness of FNB in the market.