According to certain media channels, officials over at the SEC and CTFC are all looking to legalize the creation of Crypto ETF’s by the end of this year.
While nothing has been set in stone as of now, the optimism stems from the fact that ‘two unnamed sources’ working with the US government have mentioned that
“Bitcoin ETF and other crypto ETF products will ‘quite certainly’ be announced alongside the first set of crypto regulations of substance from both the SEC and the CFTC later this year.”
More on the matter
One of the sources who spoke with the ICO Journal said:
“I would call it 90% at this point. The crypto markets have moderated and regulators have watched the lack of drama surrounding Bitcoin futures across several global exchanges. The price moderation and adoption of a ‘peer product’ is what the conversations have centered around. In January we were justifiably concerned about a bubble and the harm a quickly approved product could attract speculators and create losses that led to significant lawsuits. Now, those factors seem to be mitigated significantly.”
Similarly, an ex-SEC employee who left the organization a couple of weeks back also relayed a similar story:
“I would expect a positive outcome in September – or if it gets strung out a little further it is simply a few ‘dotted i’s and crossed t’s’ are being finalized on larger regulatory language in the crypto space. To be clear, most of the regulation will be first focused on ICO’s and the issues those pose for retail investors at the moment. US residents are sending money to all sorts of exotic locations to invest in unregulated instruments with absolutely zero recourse for losing every cent they’ve put at risk. ICO regulation will begin to solve those issues and keep client assets ‘onshore’.”
Final Take
While one may brush aside these reports as being mere speculation at this point, regulatory agencies such as the SEC and CTFC are fully aware of the rising popularity of cryptocurrencies and their underlying blockchain technology.
A concerted effort to push for uniform guidelines will provide the crypto ecosystem with an architecture that will allow for the establishment of fair and equitable markets to surround the newly regulated asset class.
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