While Hester Peirce yesterday deplored that the SEC was “ not really competent in matters of bitcoin and other crypto-assets » it is the turn of a CFTC commissioner, Summer Mersinger, to underline the extent to which the traditional market is ready and willing to integrate new products related to cryptocurrencies t. The need for change in regulatory and institutional perception is becoming pressing.
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Bitcoin and cryptocurrencies: traditional finance wants its revolution
Beyond the current rise in BTC carried away by the craze around Bitcoin ETFs, the interest of large financial institutions like BlackRock or Grayscale for Bitcoin ETFs and especially their tenacity is proof of the growing interest in Bitcoin and crypto assets according to the commissioner who declared:
“The more we see traditional finance stepping in and actually investing, the more it’s further proof that these products are here to stay (…) Regulators thought at one point that it was almost a fad and that people would move on something else (…) I think there is a lot of interest in these products. And you know, the market is ready for these products to be available.”
Source: The Block
These comments from Summer Mersinger, are a strong indicator of the growing maturity of the sector. They would almost reveal institutional recognition as well as a subtle call clear regulations that will allow the market to continue to thrive.
Recent Hester Peirce’s positions and of Summer Mersinger create a two-speed regulatory landscape. Gary Gensler and the SEC seeming to even be at a standstill in several folders. A gap in vision is increasingly emerging, while an entire sector remains hanging in the clutches of the American financial policeman. To be continued.
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