A high-ranking official from the U.S. Securities and Exchange Commission (SEC) is criticizing the regulatory body for its fierce reluctance to approve a spot-based Bitcoin (BTC) exchange-traded fund (ETF).
In a new speech, Commissioner Hester Peirce says that the SEC’s consistency in rejecting spot Bitcoin ETF bids is becoming “almost legendary” at this point, and that the regulator is holding Bitcoin-related products to a higher standard than other assets.
“It is time for the Commission to stop denying categorically spot crypto exchange-traded products. The Commission’s resistance to a spot bitcoin ETP is becoming almost legendary…
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The reasons for this resistance to a spot product are difficult to understand apart from a recognition that the Commission has determined to subject anything related to Bitcoin – and