SEC's Crypto Mom on Bitcoin ETF approval: "Don't hold your breath"

06 Dec, 2018 | Updated: 06 Dec, 2018
by Jelmer van der Dussen
SEC's Crypto Mom on Bitcoin ETF approval: Don't hold your breath

SEC Commissioner Hester Peirce said during a fireside chat at the Digital Assest Investment Forum in Washington to 'not hold your breath' when it comes to a Bitcoin ETF.

Peirce, nicknamed 'Crypto Mom' by the crypto community, is an advocate for a crypto ETF and tries to pursue the SEC to approve a Bitcoin ETF soon. With the Van Eck ETF on the line in February 2019, a decision has to be made by the SEC whether they want to accept a Bitcoin ETF now, or not just yet.

In July, Peirce dissented from the decision of the SEC to reject the Bitcoin ETF filed by the Winklevoss Twins. Now, Peirce says on a crypto ETF: "Don't hold your breath."

Read more: Crypto has a new 'Crypto Mom', and her Twitter following is growing by the minute

The Block's Frank Chaparro quotes the SEC Commissioner: "You all know that I am working on trying to convince my colleagues to have a bit more of an open mind when it comes to [crypto]. I am not as charming as some other people," Peirce said.

According to Peirce institutionalization 'will happen', but a crypto ETF could come 'tomorrow or in 20 years'. "I do caution people to not live or die on when a crypto or Bitcoin ETF gets approved." Peirce said the SEC is 'a little slow with innovations'.

Read more: SEC launches new FinHub to engage with crypto and fintech innovations

Discussing the implementation of regulations in the crypto space, the 'Crypto Mom' warned: "Be careful what you ask for. Never underestimate the ability of regulators to think up regulation requirements you have to follow that you never thought of."

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