SEC Commissioner Esther Pierce sharply criticized the regulator's actions, as the commission inonce again rejected an application to launch a bitcoin ETF.
On Wednesday, the SEC rejected the application of Wilshire Phoenix and NYSE Arca Inc. to launch a cryptocurrency ETF.It is worth noting that last year, representatives of the Commission rejected many similar applications submitted by Bitwise, NYSE Arca, ProShares and others.
In response, EsterPierce issued a statement according to which the agency deliberately did not provideinvestors access "to bitcoin through a product listed on an exchange in accordance with the Commission's regulatory framework"
A supporter of cryptocurrencies stated:
A long list of failures makes me thinkthat the Commission intentionally does not want to authorize a product that would provide access to bitcoin. No application will be able to meet the ever-changing standards that the SEC invents specifically to limit cryptocurrency trading.
According to the commissioner, the ubiquitous resistance of the department impedes the development of the cryptocurrency market, impedes institutionalization and innovation, and does not comply with the investor protection policy.
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