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The new SEC members are more tolerant of bitcoin, will the ETF be passed?

2018-09-07 17:24:26 | cryptocurrency
According to the trustnodes report on September 7. At the US Senate hearing on Wednesday, Elad Roisman was appointed a member of the US Securities and Exchange Commission (SEC), the new member seems like hold tolerance to Bitcoin market value.


The other four members of the SEC welcomed Elad Roisman in a statement:

“Congratulations to Elad Roisman, who is looking forward to joining us in the ranks of more than 4,500 dedicated colleagues. I believe that Elad Roisman will live up to the mission and represent the major contributions of US investors to our common cause.”

The SEC committee has been five since 2015. But one of them, Kara M. Stein, must step down in December this year, which will reduce the number of the committee member to four. In terms of bitcoin ETF approval, there may be awkward scenes in SEC.

SEC Commissioner Hester M. Peirce has been supportive of the cryptocurrency sector, and in July she objected to the SEC’s rejection of the Winklevoss Brother Bitcoin ETF proposal. Imagine if the new members Elad Roisman and Hester M. Peirce are on the same front, will the result of the vote on the Bitcoin ETF become 2 vs 2?


Of course, this speculation is not without foundation. Elad Roisman recently commented on the rejection of the Bitcoin ETF application at the Senate hearing:

“Some people think that the market has been manipulated by this little guy (bitcoin), and I think the SEC needs to try to eliminate this concept.”

“Some people just see the bitter side of Bitcoin value, which is still in its early stages of development, so they believe that Bitcoin should be prohibited from participating in some lucrative, high-risk investment opportunities. “

Trustnodes also reported that due to the potential impact of the former Democratic government’s many years of red tape, institutions such as the SEC did not actually take any practical action to adapt to the digital age.

However, Elad Roisman believes that some measures should be taken, and the SEC can do a lot, which further indicates that he may have the same view as Hester M. Peirce. If he does this, then a new situation may arise about whether to vote through the Bitcoin ETF and perhaps they may be deadlocked.

The appointment of Elad Roisman may not be a reason to be hopeful, but at least better than in the past. This is because, for the SEC, the rejection of the Bitcoin currency ETF may face greater resistance. Because in addition to the new members’ approval of the ETF, the SEC needs to face the needs of a new generation of investors.

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