Hester Peirce Responds to Approval of Spot Bitcoin Exchange-Traded Products
In a statement on January 10, Hester Peirce, also known as ‘crypto mom,’ expressed her thoughts on the approval of spot Bitcoin exchange-traded products by her agency. She referred to it as the end of an unnecessary but consequential saga. The Grayscale court victory against the SEC last year played a significant role in shortening this saga.
Lambasting The SEC
Peirce criticized the SEC for its treatment of bitcoin-related ETP applications compared to other applications that have been routinely approved over the past decade. She claimed that the agency’s actions have alienated product innovators in the crypto space. Coinbase CEO Brian Armstrong highlighted these comments and accused the SEC of regulatory prejudice against new products and services.
Hot Take: Hester Peirce Speaks Out Against SEC’s Treatment of Bitcoin ETPs
Hester Peirce, also known as ‘crypto mom,’ has strongly criticized the SEC’s treatment of spot Bitcoin exchange-traded products (ETPs). In her statement, she expressed relief that the long-standing saga has finally come to an end. Peirce believes that the SEC’s actions have alienated product innovators in the crypto space and demonstrated regulatory prejudice against new products and services. Coinbase CEO Brian Armstrong echoed these sentiments, accusing the SEC of unreasonably delaying product launches and sidestepping the law. This approval marks a significant milestone for Bitcoin ETPs and may pave the way for further innovation in the industry.
By
By
