How long can the SEC delay the inevitable?

Another month, another battle line drawn by the SEC.

If anybody thought that they were going to roll over and let crypto have free rein after their XRP loss then they were sorely mistaken.

This time it's another delay tactic while they try to get to grips with institutional investment that is on it's way.

When you have companies the likes of;

• Blackrock
• Fidelity
• Invesco
• Bitwise
• Vaneck
• Wisdom tree

All lodging applications this year then you know that there is serious talk from the big investors. People are interested in crypto and it's going to be provided for them.

First slowly with bitcoin and then faster as more and more companies open up trading as well as a larger list of options.

Enter the SEC.

Time and time again over the past few years we have seen the SEC sue, litigate, defame and generally just try to fuck with crypto as much as possible. What their end game is, might be unclear but for now they are hell bent on holding back the tide as long as possible.

Again today, the announcement came out that all of the applications for a Bitcoin ETF have been put on hold for the maximum amount of time allowed.

With the maximum 240-day extension window available to the SEC, the final deadline for ARK’s Bitcoin ETF is in January 2024, while approval or disapproval of all the other firms’ offerings could come as late as March 2024.
Ref: Cointelegraph.

Time and time again the SEC have showed they are anti crypto and anti progression. These ETF's are just the latest in a long line of attacks on companies working within the industry.

"I don't think that this SEC under this leadership necessarily cares whether they win or lose in the courts," Ripple’s chief legal officer Stuart Alderoty said at the Piper Sandler Global Exchange & Fintech Conference on Wednesday. "I think what they are engaging in is a coordinated campaign to essentially destroy the crypto economy in the United States."
Ref: Yahoo finance.

The government are currently debating crypto legislation in America which will have a major say in what happens next. If it falls the right way then the SEC will have no grounds to object to the applications and will have to approve them against their will.

A pause but lots more to come and lots more battles ahead.

Posted Using LeoFinance Alpha