Why are they taking SO long to take a god damn decision? Why can’t these old fucks hurry up and tell us what’s up? It’s friday night, I don’t feel like siting on my computer for the rest of the day, just give us a god damn verdict you pricks, and you better approve or else you’ll look like retards eventually by not accepting this post-bitcoin reality. You can’t stop it.
Well eventually bitcoin ETF was dumped by the United States of Americas Security and Exchange Commission or SEC. I dont get the clear reason why they disapprove the bitcoin ETF. In my opinion it is possibly because of bitcoins volatility and the SEC is worrying that this kind of bitcoin nature will cause many investors to big a loss amount when the sudden volatility occurs.
It’s definitely partially that, but I think their main reasons were concerns with fraud and protecting the safety of their investors.
The reasons they gave are unfortunately based around the fundamental nature of bitcoin which makes me less confident that they’ll ever approve the ETF in the future. They said “the rules of a national securities exchange [should] be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest”. They also noted that “those markets should be regulated”.
Published at Sat, 11 Mar 2017 09:06:37 +0000
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