Bitcoin ETFs to get fresh look under Gensler: SEC's Peirce
SEC Commissioner: Expect crypto regulatory framework to be built
Hester Peirce joins FOX Business’ Charlie Gasperino to discuss regulating the virtual currency on ‘The Claman Countdown’
It's becoming more clear that incoming Securities and Exchange Chairman Gary Gensler will be bullish for bitcoin and likely cryptocurrencies. in what will mark a reversal from the commission's current stance.
"I’m hopeful that with a new chairman here at the SEC that we will be able to take a fresh look at some of the reasoning that we used to deny bitcoin exchange-traded products in the past," said SEC commissioner Hester Peirce on FOX Business' The Claman Countdown.
Peirce, who was appointed by former President Donald Trump, also noted the U.S. is falling behind competitively, as countries such as Canada move ahead with crypto products.
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"Frankly, Canada is ahead of us now, they not only have bitcoin exchange-traded products, but they have exchange-traded products based on Ether" she added, which is currently the second-largest crypto-asset behind bitcoin with a market cap of nearly $300 billion, as tracked by Coindesk.
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Hester has yet to sit down with Gensler to talk bitcoin but plans to do so as he begins his new role. During his confirmation hearing, he did hint at a more friendly SEC crypto view, noting he would "work with his fellow commissioners to both promote innovation but also ensure investor protection."