The US Securities and Exchange Commission (SEC) commissioner Hester Peirce has stated that the government should not limit the emergence of new products in the crypto market based on the perceived weaknesses of Bitcoin.<\/p>\n
According to Peirce, the SEC should not force crypto markets to be subjected to comprehensive government regulation just to deploy products on top of the markets. She explained<\/a>:<\/p>\n \u201cThe Commission should not default to a demand that the crypto markets be subject to comprehensive government regulation as a precondition to allowing products linked to those markets to be traded in markets that we regulate.\u201d<\/p><\/blockquote>\n Peirce, often characterized as CryptoMom, emphasized that the rejection of the Winklevoss Bitcoin Trust exchange-traded fund (ETF) was enforced due to the SEC\u2019s belief that Bitcoin markets have flaws relating to infrastructure.<\/p>\n The issue of Peirce with the decision of the SEC, which she explicitly described through a letter of dissent<\/a>, is that the SEC justified the rejection of the Winklevoss Bitcoin ETF by stating that the evaluation of Bitcoin or blockchain technology as an investment or innovation was not involved in the process of disapproving the ETF.<\/p>\n In simpler terms, the SEC stated that the denial of the Winklevoss Bitcoin ETF had no connection to the SEC\u2019s evaluation of Bitcoin and cryptocurrencies as an asset class.<\/p>\nSEC Should Not Evaluate Bitcoin Markets, Only Viability of Products Like ETFs<\/h2>\n