THELOGICALINDIAN - SEC Abettor Hester Peirce believes that the US government cannot ban bitcoin advertence that its actual difficult to ban article thats about a peertopeer technology The abettor is hopeful that with the new administrator who has abysmal ability of bitcoin and cryptocurrencies the SEC can booty a beginning attending at some of the affidavit acclimated to adios bitcoin exchangetraded funds ETFs
SEC Commissioner Says ‘Very Difficult’ to Ban P2P Technology
Hester Peirce, a abettor at the U.S. Securities and Exchange Commission (SEC) who is additionally accepted in the crypto association as “crypto mom,” was asked whether there is a achievability that the Biden administering could ban bitcoin in an account with Fox Business’ Charles Gasparino on Thursday.
With new cryptocurrency regulations in the works, investors are anxious whether the government will ban cryptocurrencies, including bitcoin. Some bodies accept warned that governments can outlaw bitcoin if it becomes a accident to their banking systems. Among them are Bridgewater Associates architect Ray Dalio, The Big Short’s Michael Burry, and Ron Paul.
A bitcoin proponent, Peirce has been advocating for the SEC to accept bitcoin ETFs. Regarding the achievability of banning bitcoin in the U.S., the abettor opined:
Commissioner Peirce ahead said that the government would be “foolish” to try to ban bitcoin, allegory it to shutting bottomward the internet.
The U.S. government is anxious about cryptocurrencies actuality acclimated in adulterous activities. Treasury Secretary Janet Yellen has said several times that cryptocurrencies are mainly acclimated for illicit financing. She additionally said ahead that the Treasury will assignment with added regulators to appear up with appropriate regulations for the crypto space.
Fox Business afresh reported that crypto adjustment may alpha from the Treasury and the SEC is cat-and-mouse for administration on ample authoritative behavior on cryptocurrencies from the Treasury.
The SEC additionally has a new chairman; Gary Gensler was confirmed to advance the agency aftermost week. He has abysmal ability of bitcoin and cryptocurrencies, accepting accomplished classes on the accountable at the Massachusetts Institute of Technology (MIT). Gensler is additionally a above administrator of the Commodity Futures Trading Agency (CFTC). He is expected to appoint a fair bulk of adjustment on cryptocurrencies. Aftermost anniversary the U.S. House of Representatives passed a bill mandating that the SEC and the CFTC authorize a alive accumulation focused on agenda assets.
Regarding the achievability of the SEC acknowledging a bitcoin ETF this year, Peirce said, “With the new chairman, we will be able to booty a beginning attending at some of the acumen that we acclimated to abjure bitcoin exchange-traded articles in the past.” She added: “Frankly, Canada is advanced of us now. Not alone they accept bitcoin exchange-traded products, but they additionally accept exchange-traded articles based on ether.”
Do you anticipate the government can ban bitcoin? Let us apperceive in the comments area below.
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