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November 09, 2018, 03:15:38 PM Last edit: November 09, 2018, 04:00:38 PM by Bennix |
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In simple terms,SEC will not approve BITCOIN ETF because big exchanges have not agreed to the terms and conditions given by SEC.SEC knows that if the big exchanges controlling greater volume of bitcoin traded are regulated and checkmate,this will result in solving the issues of manipulation to a reasonable extent. But as it stands,the big exchanges have not agreed to the terms and conditions given by SEC.We have seen big exchanges using high leverage ,and if they see they are not in profit,they manipulate the price of btc by liquidating the fund of those that short or long btc.SEC thinks the manipulation has created unfair trading ground for average traders,and they think rights of average traders have been undermined. On the other hand,Some exchanges have not allocated fund to pay their investors incase of unforseen circumstances of which we have seen many traders loose money whenever exchange is hacked.From my own point of view,SEC will not approve BITCOIN ETF bcs of unregulatory and volatility nature of btc.SEC also thinks the investors funds are not protected if big exchange keep on manipulating and using reported volume.
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