The cryptocurrency community is showing love and appreciation towards SEC Commissioner Hester Peirce over the last hours following her statement that she officialy dissented from the decision of the SEC to reject the BTC ETF filed by the Winklevoss twins.
In the last 16 hours, the following of Pierce on Twitter has grown from 1700 to over 9200 at the time of writing as a result of a popular post on the Cryptocurrency subreddit. In this post, upvoted 6200 times, Peirce is introduced as 'The SEC Commissioner who wants the ETF approved'. The post says: 'She has only 1700 followers. Lets show her some love from the Crypto Community'.
The last tweet of Peirce, in which she announces her decision to dissent the SEC decision, has been widely spread in the crypto community, with over 2000 retweets and 5000 likes.
Apparently, bitcoin is not ripe enough, respectable enough, or regulated enough to be worthy of our markets. I dissent: https://t.co/gH5zXaKtmj— Hester Peirce (@HesterPeirce) July 26, 2018
Thank you for your well reasoned, detailed, and thoughtful dissent in favor of a $BTC EFT approval.— Woody (@Woodrow1616) July 26, 2018
Your dissent just earned you the respect of tech enthusiasts worldwide 👊— Crypto Steve (@ImFlowSteve) July 27, 2018
Peirce released a three-part statement declaring that the objections to the proposed rule changes were wrong.
She claims that the SEC's deliberation was overly focused on the underlying Bitcoin 'spot market', as opposed to the ETF in question, the Winklevoss Bitcoin Trust. She also states that 'unintentionally undermines investor protection. It precludes investors from accessing bitcoin through an exchange-listed avenue that offers predictability, transparency, and ease of entry and exit'.
And in the final part of her statement she says that the SEC shouldn't be acting as gatekeepers of innovation. Obviously, all these statements were well received by the crypto community.
Earlier this year, Chairman of the Commodity Futures Trading Commission (CFTC) Chris Giancarlo received an incredible amount of support from the crypto community following his opening remarks in a discussion with the Senate Committee on Banking, Housing and Urban Affairs on cryptocurrencies. He stated that his niece is holding crypto, and that 'it strikes me that we owe it to this new generation to respect their enthusiasm about virtual currencies with a thoughtful and balanced response, not a dismissive one.'
With Giancarlo as the Crypto President and Peirce as the Crypto Mom, there are more and more positive sounds coming from the regulatory space on the widely discussed topic of Bitcoin and cryptocurrency.
I think South Korea would vote CFTC Chairman Giancarlo as 2021 President.https://t.co/2b1v9RvW7i— Joseph Young (@iamjosephyoung) February 6, 2018