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Coin Stories with Natalie Brunell
SEC Commissioner Hester Peirce: Spot Bitcoin ETFs, Crypto Regulation & Evaluating Digital Assets
Jan 15, 2024
36:38
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SEC Commissioner Hester Peirce discusses the approval of 11 spot Bitcoin ETFs, the SEC's hacked Twitter account, and why the SEC took issue with in-kind redemptions. They also explore crypto regulation, evaluating digital assets, and the biggest misconception about the SEC.
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Quick takeaways
- SEC Commissioner Hester Peirce emphasizes the need for consistent standards for approving exchange-traded products, questioning why Bitcoin is treated differently and expressing frustration with the slow approval process of Bitcoin ETFs.
- Bitcoin is classified as a commodity rather than a security, highlighting the importance of legal clarity to avoid ambiguity and suggesting that the initial sale of a product should be considered when determining its classification as a digital asset.
Deep dives
The Frustration with the SEC's Handling of Bitcoin ETFs
SEC Commissioner Hester Purse expresses frustration with the slow approval process of Bitcoin ETFs and calls it a squandered opportunity. She highlights that the industry provided ample data and that similar products were trading in other countries. However, nothing moved forward until a court intervened. Purse questions why Bitcoin was treated differently and emphasizes the need for consistent standards for approving exchange-traded products.
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Discover
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