Last week, cryptocommunist shocked one more negative news — the Commission on securities and stock exchanges of the USA have once again moved an application for the creation of the first cryptocurrency ETF from VanEck, and SolidX. Commenting on the incident, the famous American lawyer Jack Czerwinski expressed doubt about the future of the exchange CryptoRandom. It seems hazy.
The expert thinks that the Bitcoin ETF will appear in the near future. Moreover, the chance of their approval by the members of the SEC is negligible even in the long term.
How long should I wait growth of Bitcoin
Earlier, Chervinsky accurately predicted the previous step of the financial regulator — he predicted the transfer of the case ETF February 2019. The EA now allows only a 10 percent chance that the Commission on securities and stock exchanges of the USA will allow ETF to Bitcoin.
Chervinsky in detail in a series of tweets, why stock cryptoforge now in the black list SEC.
The SEC a lot of questions. The main reason for their concern is the manipulation of the cryptocurrency market. The Committee members would like to know if there BZX CBOE (the exchange offering ETF) agreement on the joint surveillance regulated market of an impressive scale.
3/ The SEC had many concerns—enough for 18 multi-part questions.
The most important question was about market manipulation. The SEC wanted to know if BZX CBOE (the exchange is proposing the ETF) had “a surveillance-sharing agreement with a regulated market of significant size.”
— Jake Chervinsky (@jchervinsky) December 10, 2018
It is noteworthy that before the Commissioner Hester pierce expressed their dissatisfaction with the decision to cancel ETF of the Winklevoss brothers. However, the pier still supports the deferral of the case.
According to Chervinsky, another problem are the weak powers of the SEC regarding the crypt.
The SEC does not have enough power over cryptomerias, the financial regulator cannot force them to provide right information about market manipulation. Moreover, exchanges can sometimes be involved in unscrupulous Affairs.
Your message expert summed up a single phrase.
If the deadline was tomorrow, the ETF would accept with a probability of 10 percent.
More interesting about the ETF can be found in our cryptodata.
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