SEC Commissioner Hester Peirce claimed that a Bitcoin ETF would allow people to be exposed to the asset, but did not disclose whether such a product will be approved soon. Hester Peirce, the commissioner of the United States Securities and Exchange Commission (SEC) believes that the charges against BitMEX brought by the CFTC were a “loud and clear” message.
In a recent podcast, the so-called ‘Crypto Mom’ also noted that a Bitcoin ETF could be beneficial to all parties, but did not specify whether such a product will see the light of day anytime soon. How reported a earlier this month, the US Commodities and Futures Trading Commission. Accused the owners of the popular Bitcoin derivatives exchange BitMEX from illegally operating a derivatives platform.
The SEC uses the case of BitMEX as an example
While appeared On the Unchained podcast with Laura Shin, Commissioner Peirce received a question about the BitMEX controversy, even though the Securities and Exchange Commission was not involved. Although he avoided the question outright, as it was not his jurisdiction, he noted that similar problems hurt the entire industry. In addition, he said that regulators are sending clear messages to companies that do not meet the necessary anti-money laundering (AML) requirements and know your customer (KYC). “I think the message has gotten through to the industry pretty loud and clear on the AML / KYC front, and I’m sure it will continue.”
Speaking directly about the BitMEX charges, he stated that when US users are involved in a product or service, “there will be an enforcement of US laws. So that’s what I think is probably what see here [con BitMEX] “. One of the most discussed topics within the crypto community is the potential launch of a Bitcoin exchange-traded fund (ETF). Although numerous companies in the industry have applied to the SEC in recent years to launch such an ETF, the success rate is zero. Most of the requests were rejected by the Commission, while others were networksrfennel .
Being the Commissioner of the SEC, received a question about the future possibilities of approving a Bitcoin ETF. Shin also asked whether recent developments in the UK, where the FCA banned the sale of crypto derivatives and exchange-traded notes (ETNs) to retail clients, would affect the SEC’s decision.