• SEC Commissioner Hester Peirce speaking at New York University, March 26, 2018 (photo by Lawrence Lewitinn for Modern Consensus).
    United States

    Crypto Mom says SEC takes nanny state approach

    SEC Commissioner Hester Peirce thinks regulatory overreach is hindering cryptocurrency innovation

    Hester Peirce doesn’t want the government to protect you from dumb cryptocurrency investments. Speaking at a taping of Laura Shin’s Unchained podcast at NYU’s Stern School of Business on March 26, the Securities and Exchange Commission’s “Crypto Mom”—a nickname she picked up after dissenting from the commission’s June 2018 decision not to approve a cryptocurrency exchange traded fund (ETF)—expressed a belief that her agency should be focused on protecting securities investors from fraud, not hindering speculation.

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    Bitcoin,  Opinion,  United States

    Why the SEC should reject a Bitcoin ETF

    The crypto market needs to grow up and tackle rampant manipulation and fraud

    The bitcoin trading market is rampant with manipulation and fraud on even some of the largest exchanges. We therefore believe it would be a grave mistake for the Securities and Exchange Commission to greenlight a bitcoin exchange-traded fund (ETF) at this time. The SEC is currently accepting public comments on the proposed launch of just such a product, via a joint bid by the investment firm VanEck and the financial services company SolidX. Those of us who believe in free markets hail the proliferation of crypto exchanges that has occurred since the start of the decade. The hope is that, eventually, the fairest and most honest exchanges will attract the most…