In a virtual fireside conversation with the capital’s bar association, US Securities and Exchange Commissioner Hester Pierce criticized the long-standing opposition to the Bitcoin ETF Commission.
Asked by curator Ashley Ebersol about the SEC’s massive dissatisfaction with the wide range of Bitcoin ETF offerings in the United States, Pierce, often known as ‘CryptoMom’, responded by speaking out against these rejections: “I have been very loud in my disagreement with my colleagues. upon refusal from any data, the goods are traded on the exchange. ”
Pierce argued that Bitcoin is not uniquely volatile as a major investment in ETFs. “Plus, you can still create an organized product.”
Gemini Trust’s Ji Kim continued in this vein, questioning the interest of the Securities and Exchange Commission (SEC) in bitcoin ETFs. Pierce replied, “You cannot assume that markets will not function if they are not subject to the same type of regulation as stock markets.”
I believe the bitcoin markets are mature. There is a lot of money now, there are many very experienced players in this area, and a lot of work has been done to specifically regulate bitcoin trading. I would say that the markets are mature enough to build something else on them.
Regarding the recent explanation by the bank’s Treasury regulator that banks could have stable foreign exchange reserves based on securities, Pearce noted that the Securities and Exchange Commission (SEC) is closely following such developments. “There is a lot of regulatory coordination going on.”
Despite the new ruling, Pearce warned that some of the products advertised as stack coins are in fact securities: “You cannot bet a stable brand on them and expect it to be regulated that way.”
Commissioner Pierce began her second term with the Securities and Exchange Commission last month, which means she will remain on the committee until 2025.