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United States Getting Pressure To Allow Bitcoin EFT’s


The cryptocurrency market is a volatile one and so is the news cycle that surrounds it. One day the news is all good, while the following day you are going to get the opposite. Investors jump on board and want to tell everyone how great it is to invest in a cryptocurrency these days, while the regulators on the other end are handing out warnings all day long. There is practically nowhere to get good information that will make you feel warm and cozy about the investment.

The United States is one country that has decided it would try and halt just about anything that has to do with a cryptocurrency behind it. According to an exchange operator, Cboe Global Markets, the United States securities regulators should not be getting in the way of exchange traded funds like bitcoin. The reason is that they are very similar to other EFT’s that work the same way with commodities.

EFT’s Are More “Transparent”

Just this year, the United States Securities and Exchange Commission said that “significant investor protection issues” needed to be looked at and discussed before any bitcoin related EFT could be offered on the US market. One thing that is bothering most regulators, especially about bitcoin, is that it can be moved around the world very quickly and most of the transactions are completely anonymous.

With that being said, Cboe Global Markets contends that investors in the United States could get a better look at cryptocurrencies tied to EFT’s compared to the spot market they are seeing right now.

Looking at Each EFT On A Case-by-Case Basis

Cboe is asking that the SEC just take each of the cryptocurrency backed products into consideration on a case by case basis. With more than $70 billion changing hands in December alone, there is going to be a lot of eyes on the market.