The SEC is Accepting Citizen Input on Whether Or Not Bitcoin ETFs Are Securities
Government organizations have a duty to hear the opinion of citizens on any and all matters affecting the country. The United States Securities and Exchange Commission (SEC) just opened a webpage where citizens can make their opinions heard regarding the CBOE bitcoin ETF filing, which involves deciding whether or not bitcoin ETF should be regarded as securities.
The Chicago Board Options Exchange (CBOE) recently filed a request that bitcoin Exchange Traded Funds (ETFs) be regarded as securities by the regulatory body. The SEC recently opened that request to public opinion, allowing any member of the public to comment on the filing.
As of July 11, there have been about 20 comments on the filing, including comments from CEOs, ordinary members of the cryptocurrency community, and various crypto organizations.
You can view the comment thread – and make your own comment – by visiting the filing request here.
Why is there so much debate over bitcoin ETFs? Well, the majority of cryptocurrency traders believe bitcoin ETFs will be a gateway for institutional investors to get involved in crypto investing. A regulated, registered bitcoin ETF would “open the floodgates” to more money flowing into the crypto industry. If the SEC were to classify bitcoin ETFs as securities, then it would allow firms on Wall Street to easily purchase bitcoin as a registered, regulated asset.
So far, high net worth individuals and institutional investors in the United States have remained mostly on the sidelines waiting for regulatory direction from the United States SEC. Until the SEC makes a decision, it’s difficult for these groups to participate in the industry.
Coinbase, one of the world’s largest and best-known crypto exchange companies, has already launched a regulated crypto custody service called Coinbase Custody. That service is taking new customers on a daily basis in anticipation of the SEC’s upcoming decision.
How To Comment On The SEC’s Bitcoin ETF Decision
If you want to make your opinion about bitcoin ETFs known, then you can do so in three different methods. As explained by our friends at EthereumWorldNews, you can submit a comment via online form, email, or traditional mail:
Online Form: Submit a comment via the online form here.
Email: Email comments to [email protected] The subject line of your message must include the file number for the rule, which is SR-CboeBZX-2018-040 for the bitcoin ETF case.
Mail: Send three copies of your paper comment letter to the address listed on this page, with each copy listing the file number for the ruling (SR-CboeBZX-2018-040 for the bitcoin ETF case).
Your opinion matters. If you’re interested in influencing the SEC’s decision on whether or not bitcoin ETFs can be regarded as securities, then you can do so using one of the contact methods listed above.