Our people: SEC Commissioner criticized the failure of the regulator in approving EFT
Source:
This week the Commission on securities and stock exchanges of the U.S. consideration of the legalization of open investment funds (ETF) Direxion on Sept. Many investors upset that the regulator's decision — they were counting on the rapid growth of Bitcoins.
Although the SEC has refused to offer brothers Winklevosses, Commissioner regulator a Cunning pierce expressed his disagreement with the decision of the management. About it writes .
theWhat SEC thinks about ETF
Pierce said that the officials made a mistake by denying the brothers the Winklevoss ETF for approval. In addition, they exceeded their powers under the regulation of the stock market.
The Historic mission of the SEC was to provide investors the necessary information to make investment decisions and monitor compliance with the rules of the exchange, excluding manipulation and other financial crimes. Now the Commission goes beyond that limited role instead of fulfilling their duties, staff are addressing issues that are beyond their competence.
According to the publication, pierce can afford to safely Express dissatisfaction with management actions. The fact that in August she will go to the presidential administration of Donald trump.
Bitcoin is a new phenomenon that could upend the global economy, could collapse. Now the SEC is not possible to estimate the probability of a result, but the Commission stubbornly trying to do it.
Let's hope that other employees of the SEC are of the same opinion about the ETF and are not afraid to Express it. If mutual funds will be allowed this year, Bitcoin can soar to the heavens.
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