[HN Gopher] U.S. SEC rejects Valkyrie, Kryptoin Bitcoin trusts
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       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?
        
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       (page generated 2021-12-23 23:00 UTC)