SEC Commissioner Relates Crypto With Gold And Having Similar Properties
A recent Bitcoin Exchange Guide post provided details regarding SEC Commissioner, Hester Peirce’s take on Bitcoin along with her responsibility as a regulator in terms of why the Winklevoss Twins’ proposal of an exchange-traded fund (ETF) was rejected and her first ever experiences with Bitcoin.
While the Commissioner did share that bitcoin was a big learning curve and that interest still holds in terms of where it might be headed, she supposedly does not hold any cryptocurrencies and stated that it would be “better that way”.
Here’s what she had to share as the reason why the proposal was rejected:
“Now, I think that you can look at their decision and you can see sort some of themes running through their decision and what I took issue is that I think the decision looked a little bit below what the filing was.”
According to an AMB Crypto report, which did a follow up on Hester Peirce, it seems like the primary focus is more so on the responsibility the exchange and their CEO has for offering a product like an exchange-traded fund on their platform and should not be so much on what will happen to Bitcoin in the years to come, as any investment naturally has risks and not all of them can be predicted beforehand.
In terms of how bitcoin and altcoins differ or intertwine with the different, existing asset classes, Peirce noted that while there exist some differences, “there are similarities with other asset classes if you look at something like gold.”
Overall, it seems like Peirce does support the entirety of the crypto sphere, while she is still learning about it. At the same time, she seems to be concerned with the mandates within the Commission that could potentially prevent innovation. Is this the same feel you get? If not, tell us what you make out of Peirce’s viewpoints in the comments below!