SEC Calls Bitcoin “Highly Speculative” With “Potential For Fraud”
DAVID DIERKING, 12 May 2021
It was thought that with the installation of the Biden administration we’d be looking at a more regulatory-friendly environment for cryptocurrencies. Multiple appointees to his staff have openly expressed at least a willingness to allow for greater acceptance of cryptocurrencies.
It looks like we may not be any closer after all. On Tuesday, the SEC’s Division of Investment Management issued a statement regarding mutual funds taking positions in bitcoin futures. Keep in mind that this is the same bitcoin futures market that many thought was going to clear the path for an eventual bitcoin ETF approval since dozens of ETFs already invest in futures contracts. Continue reading “Article: SEC Calls Bitcoin “Highly Speculative” With “Potential For Fraud””
