United States SEC has again postponed its decision on a Bitcoin ETF

The U.S. SEC once again postponed its decision over the Bitcoin ETFs. The regulatory authority has set the new deadline for February 27, 2019, for further review. The applications for bitcoin ETF’s are submitted both byVanEck and SolidX firms; the applicants want SEC to accept Bitcoin ETF’s request based on previous precedents of allowing commodity-related ETF’s.

The Commission finds it appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider this proposed rule change,” SEC says.

Bitcoin ETF’s Could Come Tomorrow or in 20 Years

Investors and traders across the cryptocurrency industry have aggressively been seeking to get Bitcoin ETF’s approval from SEC over the last year. The market participants believe the listing of Bitcoin ETF’s would take crypto coins to the list of mainstream assets. It’s true that the approval of bitcoin ETFs would enhanceinvestor’s confidence in emerging markets – which is likely to result insignificant cash inflow from retail and institutional investors.

However, SEC commissioner Hester Peirce claimed that SECcould approve Bitcoin ETF tomorrow or in 20 years.

 “Don’t hold your breath. Look, it took a long time for [the] SEC even toestablish Finhub.”

SEC has repeatedly raised their concerns over the illegaltrading activities, price manipulation, hacks, and money laundering activities;SEC wants higher security and full compliance with SEC trading and investmentrules before approving Bitcoin ETF request.

Also read: Group of international banks in partnership with enterprise Blockchain software firm R3 have completed a live commercial paper transaction based on Blockchain platform Corda

Source: https://theoofy.com/26217/sec-delays-bitcoin-etf-decision-cryptocurrency-markets-plummets-to-new-yearly-low/