Bitcoin Forum

Bitcoin ETF approval by SEC has been a front burner in recent times , it is believed to bring in huge benefits if eventually approved. Here are four reasons why it was rejected (or are still pending):
 1. Market is still very small , just 110 B$, compared to trillions of dollars for other markets
 2. Market manipulation and frauds (exchange Acts requirement not met)
 3. Lack of transparency (or control) as much of the bitcoin holdings are outside the US jurisdiction, same is true for the big exchanges
 4. Lack of co-ordination by global exchanges,SEC  will welcome a scenario where exchanges are able to work together.



Credit: https://www.coinness.com/en-gb/newsflash/detail/96299

1. why do you care what the SEC says? its just a body of a "selfregulated" banking cartel in the usa. why should you care about what they say? they want everyone unregulated. out so they have complete power to scam the americans, keeping them as their slaves. bitcoin was created outside of legal surveilance for reasons.

2. whats the use of bitcoin etfs? anyway.

true, we are still a long way from gold markets, for example.


I agree, we have a lot of frauds and a lot of exchange are not trustworthy, Just to give an example:

https://coinmarketcap.com/exchanges/volume/24-hour/

6. HitBTC HitBTC

> HITBTC Scam, it took all my money (https://bitcointalk.org/index.php?topic=3689030.0)

Explanations of pure scam: 65,000 USD stolen by HitBTC (https://bitcointalk.org/index.php?topic=3251481.0)

hitbtc.com thieves and scammers (https://bitcointalk.org/index.php?topic=3451971.0)

These days, I don't take the SEC serious. Despite their continues rejection of the ETF, bitcoin price remains steady and upward. Soon, they will just beg to approving it when they see they can't stop the revolution. We all know all these is to manipulate the price of bitcoin.

sometimes I ask why SEC has made a decision too long if you think that way, isn't deciding to reject bitcoin is easy if it is like that, I think the SEC is considering bitcoin and this is an opportunity

of course we are here to care about anything that is the SEC's decision, because that decision can drive bitcoin to grow faster, everyone is also definitely waiting for that good decision

I believe those points are very true, most expecially exchanges nowadays are the real problem of cryptocurrency, I don't want to mention names

They want to keep Bitcoin down for now so agreeing to ETF won't happen in the near future in my opinion. And you're right, we shouldn't care what they say because they don't care about us either.

there is absolutely no pressure on SEC to approve bitcoin ETF! they will reject it if they want to and there is nothing anybody can do about it. i mean they can run social media drama all they want and fill the internet like they always do but it won't change a thing :P

As long as the high weight of bitcoin is outside of the trading platforms, bitcoin ETF will not be accepted.
They want to check the identities of each dollar users.

It is probably the most likely reason for the rest of the reasons, mainly the manipulation at the end of last year.
anyway, who cares.   Not your keys, Not your coins.

Most of the points are true because in recent time most of the exchanges are problem for cryptocurrency.

True


This is the single biggest reason why Bitcoin ETF's will not be approved. Market is prone to manipulation and we can't eliminate that.


3 and 4 won't likely to happen as well. Exchanges will not work together and transparency or control will be difficult because its global.

The Bitcoin ETF rejection by US securities and exchange commissionis kind of frustrating. But still, it could not affect the rise in price of Bitcoin. The price of Bitcoin is sill rising.

This is really disappointing that bitcoin Etf has been rejected for such main reasons as these reasons show that this project had an intention to scam. There can be some misunderstanding too in their process. So now it needs to do something different top make the project reliable to get permission.

Most people have started to forget what the SEC is doing, because at that time they still have not found security in this free market so much needs to be improved so that not many people have lost money with the fraud and manipulation of the market that is rampant by the Pope, Opportunities are still difficult for us to achieve and there may be games in institutions to pressure all investors, it may happen with vulnerability manipulation, I will only focus on whatever market happens that will someday return.


I think this is not a bad thing, and maybe you are someone who panics quickly, so don't worry too much about the investment you build.

If it is lack of transparency that prevented the US SEC to prevent ETF for bitcoin into coming live then I don't think it will ever be possible for them to give it a green light in the future too. There is no transparency in the bitcoin network and don't think it will ever change.

This is disappointing to see that ETF was rejected because all the indications show that the true purpose of it was to scam people. But this cannot be the case. Maybe there was some misunderstandings and that is why it happened. Maybe they need to come up with another way and a new project to make it look more realistic.

Over the time bitcoin have shown its power and potentiality to grab a huge portion of the market. If the SEC approves bitcoin as a legal transaction medium then soon it will become the prime mode of transactions. That is why SEC is showing these excuses of bitcoin limitation.

Yes, I believe that also. If they will not accept it, they will be left behind. Bitcoin life will still go on without them. They have hesitations for now maybe because of the items pointed by the OP.

Yes bitcoin has some limitations which needed to be solved right now. But the delays or postpones of the approval by SEC for the ETF of bitcoin is ridiculous for me. SEC is just trying to pull down the reputation of bitcoin.

They think that they do not have enough opportunities to manage the cryptocurrency market. I think ETF wants to dictate its rules to the cryptocurrency market. I do not think that the community should think too much about it.

I think SEC is just insecure regarding the growth of bitcoin. For the last few weeks bitcoin price has been in stable position though SEC is continuously postponing the ETF approval. They are just making the repeated excuses on which bitcoin is working continuously.

I think the reasons are right and I also agree with them but at the same time I think that SEC should've approved Bitcoin ETF as the future will be very much dependent on bitcoin indeed. Soo, SEC will feel the presure to approve bitcoin ETF I guess.

I think government just delay this process. Today or tomorrow EFT will approve. It helps the people to transfer their currency easily and quickly. I think SEC set proper paln than they approve it. So keep your patience.

I think there are no absolute reasons for the rejection of EFT. I believe it will approve soon. All I know that the government set some policy for the digital currency if they come up with properly than they approve EFT.