SEC’s Crypto Mom on Bitcoin ETF approval: “Don’t hold your breath”

By December 6, 2018 Bitcoin Business
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SEC's Crypto Mom on Bitcoin ETF approval: Don't hold your breath

SEC Commissioner Hester Peirce said during a fireside chat at the Digital Assest Investment Forum in Washington to 'not hold your breath' when it comes to a Bitcoin ETF.

Peirce, nicknamed 'Crypto Mom' by the crypto community, is an advocate for a crypto ETF and tries to pursue the SEC to approve a Bitcoin ETF soon. With the Van Eck ETF on the line in February 2019, a decision has to be made by the SEC whether they want to accept a Bitcoin ETF now, or not just yet.

SEC Commissioner Hester Peirce on crypto ETF: "Don't hold your breath"

It could come tomorrow or in 20 years, she said.

"I do caution people to not live or die on when a crypto or bitcoin ETF gets approved."

— Frank Chaparro (@fintechfrank) 5 december 2018

In July, Peirce dissented from the decision of the SEC to reject the Bitcoin ETF filed by the Winklevoss Twins. Now, Peirce says on a crypto ETF: "Don't hold your breath."

Read more: Crypto has a new 'Crypto Mom', and her Twitter following is growing by the minute

The Block's Frank Chaparro quotes the SEC Commissioner: "You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people," Peirce said.

“Don’t hold your breath” says @HesterPeirce regarding crypto ETF, as the agency is “a little slow with innovations” during a fireside with Erica Williams from @Kirkland_Ellis at the Digital Asset Investment Forum in Washington

— Catherine Ross (@CatherRoss) 5 december 2018

According to Peirce institutionalization 'will happen', but a crypto ETF could come 'tomorrow or in 20 years'. "I do caution people to not live or die on when a crypto or Bitcoin ETF gets approved." Peirce said the SEC is 'a little slow with innovations'.

Read more: SEC launches new FinHub to engage with crypto and fintech innovations

Discussing the implementation of regulations in the crypto space, the 'Crypto Mom' warned: "Be careful what you ask for. Never underestimate the ability of regulators to think up regulation requirements you have to follow that you never thought of."

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