Paul Vigna: the rejection of application for a bitcoin ETF is justified

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The Wall Street Journal reporter and analyst of cryptocurrency Paul Vigna stated that the deviation by the Commission on securities and stock exchanges of the USA of applications to open bitcoin ETF makes sense.

He noted that currently the cryptocurrency industry can offer investors the proper level of security inherent in traditional financial markets. This is due to a lack of proper regulatory framework, allowing to manipulate the market.

In addition, the centralized cryptocurrency exchanges that currently dominate the market do not provide the necessary transparency, which also affects the decision of the SEC for a bitcoin ETF.

“It is inconceivable to imagine that the SEC will approve the ETF or equivalent investment without a safe solution for the stock market. Now good government is not looking at kriptonyte as something that they need to outlaw or squeeze out of existing markets. They see that there is a potential that can benefit people. So they are trying to figure out how to use the corresponding regulation to implement the capabilities of cryptomeria in everyday life.”

Recall that the SEC had announced its intention to revise earlier decisions on nine of the bitcoin ETF, each of which was a failure.

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