Bitcoin ETF: CFTC Commissioner calls for approval
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Marcus Misiak –
The debate about the admission of a Bitcoin ETFs is more in full swing. After only a few days ago, the second of four Kommisaren the us securities and exchange Commission (SEC), expressed for a Bitcoin ETF in a leaked Interview, has spoken out, and now also a Commissioner of the Commodity Futures Trading Commission (CFTC) for the approval of a Bitcoin ETFs.
Brian Quintenz, a Commissioner of the Commodity Futures Trading Commission (CFTC) said on a Panel at the BiPartisan Policy Center in Washington, D.C. on may 12. February, accompanied by SEC Commissioner Heister Peirce through the present attitude of the American stock market regulator, the Securities & Exchange Commission (SEC) to a Bitcoin ETF. While Peirce has received due to its Pro-Bitcoin stance is already the nickname of the “Crypto Mom,” said Quintenz, for the first time a positive over a Bitcoin ETF.
Quintenz argued, in particular, that the SEC has no comprehensible reasons for the proposals proposal for a Bitcoin ETF in a comprehensive manner, reject, and claimed that price manipulation – a common point, the SEC, in a number of refusals of applications made is not a reason for rejection. In previous decisions, to BTC-ETF proposals, the SEC has regularly expressed concerns about price manipulation, and stated that Bitcoin and other crypto currencies are easy to manipulate. Quintenz also stressed that his authority is the CFTC, with the subject of Manipulation with the permission of the Bitcoin-Futures has engaged and still a permit.
In Essence, Quintenz pointed out that its authority, the CFTC in the location, with the potential for market manipulation and to struggle, and so great an authority, it should be the SEC, as well as in the face of this Situation. Quintenz also stated that the statement, BTC is “easily susceptible” to far is in focus, and that the same conditions for almost any product could be considered in traditional markets, if enough time and effort to manipulate.
One of the more interesting points, Quintenz, is that the approval will improve the SEC is the Reputation of Bitcoin, the SEC would arouse the confidence of Wall Street and other institutional investors in the crypto market and so have more legitimacy, acceptance, and growth for the crypto market would create.
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