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Author Topic: [2017-03-12]Examining SEC’s Decision to Reject Bitcoin ETF  (Read 499 times)
hellowarda
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March 12, 2017, 02:18:54 AM
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On Friday, Bitcoin.com reported on the ruling by the U.S. Securities and Exchange Commission (SEC) rejecting Bats BZX Exchange’s proposed rule change to list and trade Coin ETF. In this article, we examine the reasoning behind the SEC’s decision and the Bitcoin community’s reactions.
read more:https://news.bitcoin.com/examining-secs-decision-first-bitcoin-etf/
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March 12, 2017, 03:01:48 PM
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To compress all of this into something meaningful, you will have to look at the things they are "fearful" of.. They want FULL control over the

markets that influence the Bitcoin price. {which they do not have with other ETF's ..like gold} and they are scared of the power the Chinese have

over Bitcoin. { They could have had that, if they saw the potential and acted on that early } .... In short, they do not want a ETF that they cannot

control... and control is power.  Grin

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March 12, 2017, 03:05:42 PM
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You don't have to speculate, because they gave you the reasons themselves:

"the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest."

Basically, they're concerned about Bitcoin's use in fraud and scams, which cannot be changed as it's part of Bitcoin's fundamental nature.
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March 12, 2017, 03:13:39 PM
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Might of been because they are going inline with what has happened with bitcoin in China so they are following their lead on not allowing bitcoin to muck up their stock exchange and have f'd up their currency like China has done with their Yuan.
No denying that cause it's all in the details.
Locals put alot of their wealth in bitcoin taking away from their own countries fiat system thus causing a drain on their own banking system and then having those assets(of bitcoin) being locked into their own country's exchanges.
The perfect fu(k up by your own government's fiat system if you ask me. Roll Eyes

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March 13, 2017, 02:37:21 AM
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Bitcoin is still in the relatively early stages of its development and that, over time, regulated bitcoin-related markets of significant size may develop. Should such markets develop, the Commission could consider whether a Bitcoin ETP would, based on the facts and circumstances then presented, be consistent with the requirements of the Exchange Act.
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March 14, 2017, 07:18:54 PM
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You don't have to speculate, because they gave you the reasons themselves:

"the Commission is disapproving this proposed rule change because it does not find the proposal to be consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the rules of a national securities exchange be designed to prevent fraudulent and manipulative acts and practices and to protect investors and the public interest."

Basically, they're concerned about Bitcoin's use in fraud and scams, which cannot be changed as it's part of Bitcoin's fundamental nature.

it cannot be changed,but the Commission opinion may and ,probably,will
we all know too well that all of the commisssions and councils are not independent
maybe the time is not ripe for it to be approved,but I'm sure that their "decision" is influenced by other parites involved
as soon as there is more legal freedom for bitcoin and more mass adoption,there will be no reason to reject it anymore
besides,there can be numerous attempts at securing ETF and I am certain brothers will try their best to get approved next time

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March 15, 2017, 12:27:13 AM
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Basically, they're concerned about Bitcoin's use in fraud and scams, which cannot be changed as it's part of Bitcoin's fundamental nature.

Right, cos there aren't any scams with fiat money right? Their "rules" wiped that out........

Really, Crypto never has & never will need them & their "rules". They're soon to be obselete anyway.

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