The SEC has denied every Bitcoin ETF application that it has yet laid its eyes on, but there’s one voice within the Commission that hasn’t given up hope.
SEC Commissioner Hester Peirce once again voiced her support for a Bitcoin ETF on Monday during a fireside chat at Consensus, New York.
“I thought the time was right a year ago—even longer than that,” said Peirce, affectionately known as “Crypto Mom” by the crypto community. “My first chance to comment on it was a year ago,” she said, adding: “Certainly the time is right, but there are still questions floating around the SEC that need to be answered as much as possible by you all.”
The hold up is apparantly due to the SEC’s concerns about the lack of regulation surrounding cryptocurrencies. “Market manipulation is a concern that people keep raising at the SEC. Other issues like custody issues come up a lot,” Peirce said.
She encouraged the audience to write to the SEC to help them understand the market. In particular, she recommended crypto executives to visit the building and explain what security measures are being introduced to keep funds safe.
However, Peirce expressed dismay that the U.S. isn’t encouraging growth of blockchain companies rapidly enough. She pointed out the amount of innovation that’s happening across the rest of the world, wishing that it was happening in the United States instead.
However, she did note that some people didn’t like visiting the SEC. She gave an anecdote about one policeman who—when he turned up to get information about securities law—expressed that he would rather be on duty, getting shot at.
Let’s hope it doesn’t come to that just to get a Bitcoin ETF approved.