Date: 6 months ago   Category: Economy

SEC can cancel the separate decisions on refusal in creation of ETF of bitcoin


SEC has decided to consider once again yesterday's solutions of refusal in the statement of numerous ETF of bitcoin.

It, certainly, is surprising news to all. The U.S. Securities and Exchange Commission (SEC) has decided to leave three applications for ETF of bitcoin which have been rejected and sought to be registered on NYSE Arca and other adjustable exchanges. At first SEC has rejected each of ETF which supports derivatives, because of problems with manipulation and also existence of bitcoin at the numerous unregulated exchanges. Actually, some facts have allowed to claim that the recent 1-minute jump of the price of bitcoin for $300 which has coincided with the fact that BitMEX was in the autonomous mode for "maintenance" is confirmation of concern of SEC concerning approval of ETF of bitcoin.

Is interesting after have announced the yesterday's decision the refusal ahead of schedule, SEC nevertheless has decided to revise these offers which were considered at first by the staff of the commission.

Actually, the commissioner of SEC, Hester Peirce has said on Twitter: Yesterday's decisions of employees, with unacceptable to the rules SRO, connected with a row bitcoin-ETF, remained waiting for viewing of the Commission. The commissioner Peirce continued to explain that SEC often delegates similar decisions to workers and reserves the right to reconsider and make changes to decisions even after official statements. Not so long ago the commissioner Peirce has expressed to

the disagreement about refusal of SEC concerning the offer in ETF of bitcoin of brothers Winklevoss, claiming: If we have accepted the considered ETF, investors could choose, buy it or not. Actions of the Commission deprive of investors of such choice today. I reject a role of the destroyer of innovations - the role very much differs from our mission for protection of investors, assistance to formation of the capital and assistance of the fair, ordered and effective market. The commissioner Peirce has also provided the copy of the letter directed to NYSE, explaining that the chairman of the Securities Commission of the USA, Jay Clayton and other commissioners will carefully look through each application to define whether decisions of SEC are fair. In spite of the fact that date of exchange of the decision on consideration isn't given in the letter, it nevertheless is interesting to those who watch cryptocurrencies.

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