SEC has again delayed a decision on VanEck/SolidX Bitcoin ETF

20 May, 2019
by Joeri Cant
Breaking News
SEC has again delayed a decision on VanEck/SolidX Bitcoin ETF

In a new document filed Monday, the US Securities and Exchange Commission, announced that they have again delayed a decision on the VanEck/SolidX Bitcoin exchange-traded fund proposal.

The US Securities and Exchange Commission, explained in a new document, filed this Monday, that they have invited comments from the public, due 21 days from when the order is published in the Federal Register, and rebuttals to those comments, due 35 days after such publication.

From the filling:

'Interested persons are invited to submit written data, views, and arguments regarding whether the proposal should be approvedor disapproved by [insert date 21 days from publication in the FederalRegister]. Any person who wishes to file a rebuttal to any other person’s submission must file that rebuttal by [insert date 35 days from publication in the FederalRegister]. The Commission asks that commenters address the sufficiency of the Exchange’s statements in support of the proposal, which are set forth in Amendment No. 1,52 in addition to any other comments they may wish to submit about the proposed rule change.'

The United States SEC hasn't approved any Bitcoin ETFs, and has or, not made any decisions, or directly rejected the proposals over the past few years.

The regulator has always been upfront about their concerns with market manipulation, liquidity, financial crime and other issues as reasons for its rejections.

VanEck's BTC ETF new deadline is August 19.

According to lawyer, Jake Chervinsky, the SEC can and likely will delay one more time for a final deadline of October 18.

Recently Chepicap reported that 'Crypto Mom' Hester Peirce recently gave her thoughts on the way the SEC has dealt with crypto regulations.

According to Peirce, she knew that the SEC's regulatory efforts would slow the development of the crypto market. She admits, however, that she 'was very wrong...in how it would do it'.

Peirce expected the SEC's hasty drawing up of new rules to spoil things for crypto, but it was in fact the commission's hestitation and the resulting regulatory uncertainty that has made things more difficult.

Most likely the Crypo Mom isn't all too impressed with yet another delay on their decisions.

And neither is the crypto community, who seems to 'be over it', and were expecting exatcly this ... just another delay.

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