Bitcoin is the first successful internet money based on peer-to-peer technology; whereby no central bank or authority is involved in the transaction and production of the Bitcoin currency. It was created by an anonymous individual/group under the name, Satoshi Nakamoto. The source code is available publicly as an open source project, anybody can look at it and be part of the developmental process.
According to analysts at Bloomberg, un ETF an Exchange-traded Fund, an investment fund that users trade on exchanges and trading platforms. Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. approved by the SEC will take place when the regulator has more control over the crypto market, which could happen if certain amendments to the Exchange Act are achieved between 2022 and 2023.
Exchange Traded Fund Analysts (EFT) de Bloomberg, Eric Balchunas and James Seyffart, indicated today that a ETF fully based on Bitcoin could reach the U.S. market as early as mid-2023, provided there is a change change — a concept relevant to cryptocurrencies that use the UTXO model — is the number of coins sent back to a user after they use their unspent outputs to initiate a transaction. in the outlook held by the company. Securities and Exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. Commission (SEC) on this matter.
Is it possible that a ETF Bitcoin will arrive in the U.S. in 2023?
This was indicated by analysts at Bloomberg en un intercambio de mensajes publicados a través de Twitter, where Balchunas commented that there is a possibility that crypto exchanges will fall under the jurisdiction of the SEC if it approves the amendment to change the definition applicable to these institutions. The change in question would make changes to the Exchange Act The new law, which would require such entities to abide by the regulator’s guidelines, could give cryptocurrencies greater legitimacy and attract investors from traditional sectors, despite the implications.
In this order of ideas, the analysts commented:
“Once cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. exchanges comply with the requirements, the SEC’s primary reason for denying spot a contract or transaction buying or selling a cryptocurrency for immediate settlement, or payment and delivery, of the cryptocurrency on the market. Bitcoin ETFs would no longer be valid, likely paving the way for approval.”
New note out on why we think spot bitcoin ETFs will get approved in early Summer 2023. The SEC is proposing to expand the definition of “exchange” which would bring crypto platforms under SEC reg. After that (which could take a year) look for ETFs to get green light via @JSeyff pic.twitter.com/TtFgFXrJ8h
— Eric Balchunas (@EricBalchunas) March 24, 2022
If approved, the change to the definition of exchange by the SEC could take place between November this year and May 2023. If this happens, being directly regulated regulation is when something is controlled by a specific set of rules. by the agency, it could set mechanisms to maintain a stricter control over the performance of crypto markets, with which it could also leave aside the allegations with which it has traditionally been rejecting the applications introduced to ETFs Bitcoin over the last few years, always alluding to the possible manipulation of prices.
Greater power over the crypto market an area or arena, online or offline, in which commercial dealings are conducted.
The Bloomberg analysts’ statement is along the same lines as what VanEck CEO Jan Van Eck said recently, when he assured that the Securities and Exchange Commission would be purposely withholding the possibility of accepting an ETF based entirely on Bitcoin in the hope of gaining more control over the cryptocurrency market.
Según Van Eck, la SEC is very limited at present and therefore has not finished approving this product, precisely because the regulatory conversations are contradictory, unhealthy and have yet to reach concrete results.
Let’s keep in mind that a couple of weeks ago President Joe Biden signed an executive order especially dedicated to cryptocurrencies, which sets the tone for the government’s approach and position on this type of assets. It also calls for the SEC and many other agencies to articulate efforts in this area.
- VanEck CEO: “SEC is holding a Bitcoin ETF hostage while it hopes to have jurisdiction over crypto markets”
- Ripple case: Judge dismisses SEC motion against defense, CEO calls it a victory
- U.S.: SEC adds NYDIG and Global X Bitcoin ETF applications to its rejection list
Version by Angel Di Matteo / DiarioBitcoin
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