SEC Commissioner Hester Peirce
In an exclusive interview with CNBC, US SEC Commissioner Hester Peirce expressed her dissent from the panel’s recent decision to reject the Winklevoss’ Bitcoin ETF license application. Having returned to the agency as commissioner six months ago, Peirce has been actively debating with other commissioners about the opportunity the SEC possesses in bringing innovation to US capital markets. In fact, after the 3-1 vote in favor of denying the ETF license, Peirce issued a public statement on the SEC’s website elaborating on her dissent.
“I’m delighted to have the opportunities to weigh-in on debates on cryptocurrencies. I think we have an important role to play telling the US and world that our capital markets are open to innovation and that [was what] sort of drove me to come back to the agency as commissioner.”
Her main arguments as to why the SEC made the wrong decision were:
While the decision to not grant the license to the Winklevoss twins may come across as a huge blow to the expansion and maturation of the bitcoin trading market, it certainly is encouraging to see such a strong advocate for bitcoin ETFs. Hopefully Peirce will be able to continue the conversation with her colleagues to eventually establish some sort of regulatory framework that will instill greater confidence within the cryptocurrency markets.