The US Securities and Exchange Commission (SEC) has been experiencing delays in approving ETF applications. According to many analysts, the delay in Bitcoin ETF approval can make radical decisions on large crypto companies in the US. What kind of radical decisions can these companies make?
The Delay of Bitcoin ETF Approval Can Leak the US by Taking Radical Decisions to Big Crypto Companies in the US!
Since the beginning of this year, several applications were submitted to the SEC for Bitcoin ETFs. However, these applications were postponed, either completely rejected or without any reason. In fact, some analysts think that any ETF decision will not take place until 2019 due to this attitude.
Some analysts in the crypto sector say the US crypto market will suffer greatly if the positive developments in Bitcoin ETF approval are not met in the next few months.
The analyst and one of the investors, Joseph Young, spoke about the SEC’s attitude towards the regulations in the sector. He said that the US market is big but that other countries continue to attract investors more. The delay of the Bitcoin ETF approval can make radical decisions on large crypto companies in the US. He said this would cause the US market to lose its strength and added:
We will see that many crypto companies have left the United States undoubtedly in the next few months. The US may be a big market. However, South Korea, Japan, Switzerland, Malta and the UK have some studies on Bitcoin ETF. And many different countries are making arrangements about this.
Anthony Pompliano, founder of Morgan Creek Digital Assets, agrees with these statements. Pompliano said that delaying the Bitcoin ETF approval could make radical decisions for large companies in the US. He said the worst would be to leave the United States. He even claimed that this would happen if there were no positive developments.
Other members of the industry, the US government through the SEC, showed hostile behavior towards the crypto-money sector, he said.
Big Crypto Company Moving to Asia!
Michael Arrington, founder of Techcrunch and partner of Arrington XRP Capital, expressed disappointment with the issue. He said that the costs resulting from the high demands of the SEC are very high. Arrington is considering moving to Asia due to these costs. Because he thinks the SEC has not taken any steps in terms of the sector regulations.
He also added that Hedge funds were under review by the SEC, but did not introduce any regulations that would direct the sector’s activities. Many factors mentioned and not mentioned here affect the crypto money market in the US. And this makes analysts believe that the market will soon come to an end.
Bitcoin ETF Approval Delay Gains Other Countries Outside the US
This delay can be considered insignificant. However, the US market is adversely affected by this delay, while other countries may continue to experience an explosion in this sector. As people and companies gain profits, they are placed on the market. Companies can’t take it any longer if things don’t. And the SEC can’t find a sector to edit at the end.
