The newly elected member of the Securities and Exchange Commission (SEC), Elad Roisman, could be the missing piece to turn the balance into a bitcoin ETF approval. The new commissioner was the SEC’s third Trump assignment after Michael Piwowar, who left office in July.
Having a strong stance on the fair organization of the crypto-monetary union, Roisman made a speech earlier this year at the Senate Banking Committee, calling for actors to act “fairly and transparently” to the regulators and to ensure they are working in this direction. mission
The exhortation partly said:
“The SEC should review and re-examine its rules, regulations and guidelines to ensure that the SEC is working in the manner it intends to fulfill its mandate. This has arisen in recent times in areas such as data protection and cyber security emerging with new investments and technologies such as first money offers and block chains. ”
Following the Senate’s decision to approve Roisman’s appointment to the SEC, the financial regulator now has two comers who are pro-bitcoin ETFs. Roisman, who has worked in the Senate Banking Committee for many years, is joining the commissioners of commissioners who support ETFs of Commissioner Hester Peirce. Commissioner Peirce has long been an advocate for cryptographic currencies and was struggling for the SEC to operate as a gatekeeper in the sector’s innovation.
SEC Hester Peirce Bitcoin ETF
SEC Commissioner Hester Peirce believes the agency should approve a bitcoin ETF, but it is now in the minority at this point. | Source: American Institutional Institute / YouTube
Another Trump management case, Peirce, posted an official opposition on the agency’s website, in July 2018, not to participate in the rejection of Winklevoss ETF. In his opposition, he claimed that the authorities had made a mistake in rejecting the fund and at the same time exceeded the limited scope of the agency’s role. holding securities market.
“The Commission’s mission has historically been and will continue to enable investors to acquire the information they need to make smart investment decisions and is designed to prevent change and manipulation when transparency and market participants interact with each other. “Said.
Until now, the SEC has transferred past ETF decisions to the Department of Trade and Markets due to an increasing number of applications. The agency rejected nine applications slapped by ProShares, Direxion and GraniteShares, which changed from the proposal of Cameron and Tyler Winklevoss. The much anticipated physical bitcoin ETF offered by SolidX / VanEck is due to the decision of early March 2019. As the division goes to the center, it is clear that the views of the commission members will certainly be a factor.