The press agency, AMB Crypto, recently reported a detailed look Commissioner U.S. SEC, the opposition of Hester Peirce regarding the fund traded on the stock exchange proposed by Winklevoss Twins (ETF), which was allegedly shared through a podcast episode dubbed "What Bitcoin Did."
Based on the comments he made, it seems to be for blockchain technology and cryptocurrencies and indeed sees the potential in the technology sector, but because of his "mandates" much remains to be followed.
As reported by AMB Crypto, at the time of the opposition, Peirce said:
"I reject the role of keeper of innovation, a very different role from [and indeed, inconsistent with] our mission to protect investors, promote capital formation and facilitate fair, orderly and efficient markets. As a result, I dissent. "
Explaining his findings, Peirce noted that, as a regulator, he had to consider the broader picture of what is at stake and the benefits that could potentially derive from it. Here is a point that you make in the decisive factor of these proposals:
"We have a specific mandate and I want to be sure to stick to that mandate and then allow innovation in the mandate as much as possible".
It seems that the Commissioner believes that, as a regulator, there should be a limit to the intervention, which sometimes goes astray. As his quotation,
"We try to become a bit more interventionists and what we allow and do not admit, and I think that's not really what we belong to".
As for when it was first introduced in Bitcoin and what he got from that experience, he shared it, it was during his university and "it's a great learning curve". He also noted that he continues to update his knowledge by listening to "Podcasts dealing with the problem" and has discussions with industry specialists to find out more.
However, as mentioned earlier, he continues to refer to the mandates he has and to the way he is keeping up with many problems.
Given that the SEC has rejected almost 9 to 10 ETFs by now, are you convinced that they are still for the blockchain and the cryptographic sphere after reading this? Share right below!