[HN Gopher] U.S. SEC rejects Valkyrie, Kryptoin Bitcoin trusts ___________________________________________________________________ U.S. SEC rejects Valkyrie, Kryptoin Bitcoin trusts Author : purplesnowflake Score : 28 points Date : 2021-12-23 20:59 UTC (2 hours ago) (HTM) web link (www.reuters.com) (TXT) w3m dump (www.reuters.com) | bufferoverflow wrote: | SEC: absolutely fine with penny stocks with 1000% daily | fluctuations | | SEC: derivatives of a trillion dollar asset are risky | | This is all a theater. The real reason is they are trying to slow | down the proliferation of cryptocurrencies. | erentz wrote: | It's weird to me they approve futures based ETFs, that are | terrible for investors seeking BTC exposure (lose money due to | roll), and approve closed end funds like GBTC that are also worse | for investors due to inability to track spot price (its been | stuck in a serious discount for nearly a year, prior to that it | was in a massive premium, both have screwed plenty of people who | bought it). But somehow an actual plain, direct, spot ETF that | can provide redemptions to authorized participants is the one | that's not allowed. | Scoundreller wrote: | Plenty of options if you can access Canadian markets. Generally | I would not recommend due to high fees and probably ??? tax | situation. | Sytten wrote: | I believe we will see significant changes to the laws around that | next year. If time permits, I highly suggest to listen to the | full hearing congress did on cryptocurrencies two weeks ago [1]. | | It did seem to me that a good portion of congressman/woman were | in favor of new rules for the industry and its interactions with | the traditional financial system. Most were concerned about | keeping the dominance of the USD long term on the global | financial system. | | [1] https://www.youtube.com/watch?v=F_kZELcynKQ | Scoundreller wrote: | > Most were concerned about keeping the dominance of the USD | long term on the global financial system. | | I've found being the best product on the market to be the best | way of ensuring one's dominance. | mistrial9 wrote: | "The term Pax Americana was explicitly used by John F. | Kennedy in the 1960s, who advocated against the idea, arguing | that the Soviet bloc was composed of human beings with the | same individual goals as Americans and that such a peace | based on 'American weapons of war' was undesirable" | | shortly afterwards, President Kennedy was forcibly replaced, | in Texas | | coincidence? ___________________________________________________________________ (page generated 2021-12-23 23:00 UTC)