The decision on Bitcoin ETFs delayed once again
Bitcoin

The decision on Bitcoin ETFs delayed once again

By Alfredo de Candia - 2 Apr 2019

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The famous Bitcoin ETFs seem never to arrive, in fact, the US SEC (Securities and Exchange Commission) reports in a memo that it has delayed the decision by a further 45 days from today, establishing May 16th as the final date.

“The Commission finds it appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change. Accordingly, the Commission, pursuant to Section 19(b)(2) of the Act, designates May 16, 2019 as the date by which the Commission shall either approve or disapprove, or institute proceedings to determine whether to disapprove, the proposed rule change (File No. SR-NYSEArca-2019-01)”.

Obviously, this is a date that is unlikely to be met, since, as we read at the beginning of the memo, the Commission could further delay the process and take more time.

For this reason, during these next 45 days, it is not certain that the SEC will be able to make a decision and examine the matter.

Jake Chervinsky, member of the Government enforcement defense & securities litigation at Kobre & Kim, explained in a tweet:

According to this statement, we will have to wait until October 2019 for a final decision.

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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