🔥🔥🔥 The Big Day for the #cryptocurrency Market is Just 4 Days Away: Two Analysts Explain Their Views
The US Securities and Exchange Commission (SEC) is set to make a crucial decision on the approval of Ethereum ETFs within the next week. However, Ric Edelman, President of the #digitalassets Council of Financial Professionals, believes the lack of a comprehensive regulatory framework for cryptocurrencies may result in a negative outcome.
Edelman, a well-known investor and personal finance writer, anticipates another delay in the decision. “I think there will be another delay, which obviously isn't all bad news,” he said in an interview on CNBC's “ETF Edge” this week.
The SEC faces two options in its decision on May 23: approval or rejection. However, a rejection could also imply a postponement.
“Without clear regulations, investors are left to navigate the market on their own, outside the investment advisory community because advisors can't provide guidance without knowing the rules,” Edelman explained. This lack of regulation often leads to investors falling prey to fraud.
Edelman also criticized SEC Chairman Gary Gensler for not establishing regulations, arguing that this inaction “actually hurts the consumer rather than helps.”
On the other hand, Matt Hougan, Chief Investment Officer of Bitwise Asset Management, supports the need for new rules. Hougan contends that “80-year-old securities laws do not fit neatly into this world of digital assets, crypto, and 21st-century technology.” He believes everyone desires a safe and secure platform where investors are protected and innovation is encouraged.
Bitwise has its own filing for a spot #EthereumETF , and Hougan remains optimistic. “We've entered the ETF era for crypto. We've seen #BitcoinETFs come to market and the positive impacts they've had on investors by lowering costs, improving regulations, and increasing safety and security. I think we'll achieve that with Ethereum as well,” he concluded.
*This is not investment advice.
Source - en.bitcoinsistemi.com
