Hi, Dear Steemians Friends
As many people are waiting at the end of the month to know if the SEC (Securities and Exchange Commission) decision over the ETF, About a week ago the well known SEC commissioner Hester M. Peirce comes out with an article on the SEC website. She gives her thoughts about the situation today just before the next commission hearings. She really seems to have a deep understanding (compared to other commissioners) about the cryptocurrency world and our expectations in term of regulations. She also told us that this is her opinion and belief and not the SEC opinion, but Hester M. Peirce is a figure inside the SEC and she may be able to influence the decisions. In her article, she says that the SEC is trying to over-regulate the market of cryptocurrency and the result isn't working. She assumes that it will be better to stop trying to over-regulate the crypto market and let the crypto market regulate itself by upgrading their governance models, by the crypto exchanges and not by governments. She also says that they should allow ETF to go through, she adds that SEC commissioners are not the best-qualified persons to understand the crypto market because all of the commissioners are coming from an entrepreneur or financial background so it will be better to let the people from the crypto and technology field to make the regulations, as they have a deeper knowledge and understanding of what is it. In short, she stands for a non-government regulation and let the free market be. It is nice to see one of the figures in the SEC to stand on our side, but there are other commissioners that are far from that and keep thinking that crypto is only used by criminals when all the research and investigations are showing that the FIAC money is the one that is used by criminals. Let see on the 31st September what will be the result of the ETF, personally, I feel that it will be rejected and postpone to a later date.
Here the link to the SEC article Here
@ricko66