05.30.19
SEC's Peirce Calls for Agency Consideration of Crypto Investment Products
by: Patrick Temple-West
With investors increasingly interested in putting their money on Bitcoin, the SEC should consider ways to give them new access to cryptocurrency products despite the potential risks, Republican Commissioner Hester Peirce said in a recent speech. Peirce called on the agency's Division of Investment Management to consider how investors could gain exposure to cryptocurrencies via registered investment companies. “The reality is that retail investors will get access to these products, even if we do not allow them to do so through SEC-regulated products and venues,” Peirce said. “It is not the commission's role to be the arbiter of what constitutes an appropriate investment or to act as an investment advisor.”
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