Quickly understand the history and background of various well-known coins

SEC's Crypto Task Force Head Criticizes Spot Bitcoin ETF Approval Delays

Coin WorldThursday, May 8, 2025 6:37 pm ET

1min read

The head of the US Securities and Exchange Commission (SEC) Crypto Task Force, Hester Peirce, has criticized the lengthy process that led to the approval of spot Bitcoin exchange-traded funds (ETFs), describing it as mishandled. She urged crypto market participants to exercise patience with ongoing regulatory delays.

In an interview, Peirce addressed the slow pace of approvals for crypto-based financial products, noting that the SEC is currently dealing with litigation and internal deliberations related to digital assets. She emphasized the need for patience, stating, “People have to be patient. We have some ongoing litigation we’re trying to work through. We have lots of other considerations.”

Peirce, known for her advocacy within the crypto industry and often referred to as “Crypto Mom,” has been a vocal critic of the SEC’s handling of the spot Bitcoin ETF review process. She previously issued a public statement calling the process “terribly mismanaged” and criticized the SEC’s explanation for reversing its earlier rejections as “weak.” She also noted that the delays had “alienated a generation of product innovators within our space.”

As of April 21, the SEC had 72 ETF applications awaiting approval, including derivatives. Regulatory discussions continue, and Peirce reiterated that both institutional and retail market participants must await further clarity. She mentioned that the agency’s workload includes litigation and complex policy questions surrounding new financial instruments.

The SEC has been engaging with industry players and conducting roundtables to discuss various aspects of the crypto industry. Peirce clarified that SEC approval of a product does not equate to an endorsement of its investment value. She stated, “When something goes effective, something is green lit at the SEC, it does not mean that we’re telling people this is a good investment for anyone or for you in particular. People have to make that decision for themselves.”

Disclaimer: The news articles available on this platform are generated in whole or in part by artificial intelligence and may not have been reviewed or fact checked by human editors. While we make reasonable efforts to ensure the quality and accuracy of the content, we make no representations or warranties, express or implied, as to the truthfulness, reliability, completeness, or timeliness of any information provided. It is your sole responsibility to independently verify any facts, statements, or claims prior to acting upon them. Ainvest Fintech Inc expressly disclaims all liability for any loss, damage, or harm arising from the use of or reliance on AI-generated content, including but not limited to direct, indirect, incidental, or consequential damages.