SEC should Refuse applications for Spot bitcoin-ETF

Better Markets, which is a non-profit organization, has sent letters to the SEC office. In them, she calls on the regulator to give a negative decision on the launch of bitcoin-ETF, explaining this as risks for investors. This is indicated in the press release of the organization.

What the organization says

Legal director Stephen Hall, said that the cryptocurrency industry has losses in the amount of two trillion dollars. He noted that there are numerous coercive measures, bankruptcy, criminal investigations. At the same time, there are dozens of judicial investigations as a result of fraud, fraud and theft. Along with this, the key beneficiaries of the trend of interest in digital assets are criminals who use them to distribute ransomware. In this context, the agency is obliged to conduct the last wave of applications for the launch of spot bitcoin.

The Organization sent two letters to the Commission. They indicate that the department should follow and adhere to conservative views.

Representatives of the non—profit organization drew attention to the fact that most applications indicate a partner who will exercise joint control - Coinbase. However, the platform has only a small share in global cryptocurrency trading.

At the same time, the company stressed that bitcoin itself is used for manipulation with the help of "laundering trade". in addition, the Coinbase crypto exchange itself does not have registration with American regulators, moreover, it has faced legal problems.

The GRIN4 ecosystem

We have created a bot to make money on crypto exchanges. You set the settings, and he trades 24/7. Manage all assets from one service: with your own hands or with the help of algorithmic trading. Anonymously. Simply. Stress-free.