BlackRock-n-Roll on Crypto
Comments by Lado Okhotnikov
Well, it
finally happened. The BlackRock investment fund with assets of $9 trillion has
applied to the SEC for issuance of bitcoin ETF. Until now, all same applicants
got rejected, thus the SEC protects traditional exchanges against cryptocurrency
threat.
The
regulator's arguments sounded monotonous, officers talk about investor
protection and risks of market manipulation. However, there are strong reasons
to believe that this time the application will be accepted. Almost
simultaneously with the BlackRock initiative, the SEC filed lawsuits against
Binance and Coinbase.
On the one
hand, the US regulator demonstrates its intention to take administrative
control of cryptocurrency platforms, which has felt the taste of freedom. On
the other hand, a mega-investment fund is able to consolidate a significant
part of bitcoins and thus to control the bitcoin market.
The
synchronicity of the SEC and BlackRock actions may be an accident, although it
looks like an operation to take total control of the cryptocurrency market. In
any case, if the regulator approves BlackRock's application, we are waiting for
changes soon.
#bitcoin #ETF
#LadoOkhotnikov #expert_opinion #crypto_news #crypto_industry
#cryptocurrency #SEC #bitcoin_market #mega_investment
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