• Hester Pierce from the SEC and  Brian Quintenz from the CFTC were attending an event at the Bipartisan Policy Center and gave their views on Bitcoin ETF.
  • Pierce stated that the SEC is still unwilling to sign off on a Bitcoin ETF.

The two regulatory bodies of the United States, SEC and CFTC, came together at the Bipartisan Policy Center, during an event called “The Year ahead for Capital Markets.” In the event, the two bodies talked about Bitcoin futures contracts and Bitcoin exchange-traded funds (ETFs). The SEC commissioner, Hester Pierce said:

“At the SEC we’ve been unwilling to sign off on a Bitcoin ETF, an exchange-traded product based on Bitcoin. My concern about our approach in that area is it looks a little bit like a merit-based approach judging the underlying bitcoin markets.”

Pierce further shed light on the unregulated nature of the cryptospace saying: “There are lots of markets that aren’t regulated but we nevertheless build products on top of them.”

Commodity Futures Trading Commission’s Brian Quintenz was also at hand to voice his opinions on the subject. According to him, jurisdiction is required to make sure that the futures contracts are not vulnerable to fraud. Quintenz also stated that CFTC has fraud and enforcement jurisdiction only in the commodity space, so it is of paramount importance that entities formed a unified self-regulatory structure for the examination of ICOs.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

BTC/USD must overcome resistance at $8,985 to re-enter the $9,000 zone

BTC/USD has had a bearish start to the day following a bullish Tue. So far this Wed, the price of the asset went down from $8,811.45 to $8,773. This followed a pretty bullish Tue, wherein BTC/USD went up from $8,720.50 to $8,811.45.

More Bitcoin News

Ripple price overview: XRP/USD triangle breakout fails to materialize

XRP is also in the red on the third day of this week’s trading. The Asian trading session has been characterized by bearish action where Ripple kicked off the day at $0.2722 but touched an intraday ...

More Ripple News

ETH/USD keeps trending horizontally in a narrow $11-range

ETH/USD daily chart keeps trending horizontally in a narrow $11-range between $191 and $180. Currently, Ethereum is priced at around $185.85 and is floating above ...

More Ethereum News

Chinese news agency hails bitcoin as “first successful application of blockchain”

Xinhua, a Chinese state news agency, recently praised bitcoin in a front-page article. The flagship cryptocurrency was hailed as blockchain technology’s first successful application.

More Cryptocurrencies News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP