3 ms·
"The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) mus
by politician 10y ago
"The Commission believes that, in order to meet this standard, an exchange that lists and trades shares of commodity-trust exchange-traded products (“ETPs”) must, in addition to other applicable requirements, satisfy two requirements that are dispositive in this matter. First, the exchange must have surveillance-sharing agreements with significant markets for trading the underlying commodity or derivatives on that commodity. And second, those markets must be regulated.
Based on the record before it, the Commission believes that the significant markets for bitcoin are unregulated."
- matt_wulfeck 10y agoWhich is exactly right, but couldn't the same argument be used against a gold etf?
- scrumper 10y agoYes this was my question. Do gold ETFs list under the same exchange rule?
- hl5 10y agoNo, the significant markets for gold are very much regulated.
- deleted 10y ago[deleted]
- greenyoda 10y agoIsn't gold traded on commodities exchanges, which are regulated? Note that the CFTC, which regulates commodities futures trading, is (or was?) considering regulating digital currencies: https://en.wikipedia.org/wiki/Commodity_Futures_Trading_Commission#Regulating_digital_currencies https://en.wikipedia.org/wiki/Commodity_Futures_Trading_Comm... However, it doesn't seem like they've come to a decision yet.
- dragonwriter 10y agoSignificant markets for gold are very much regulated, and exchanges listing gold ETFs have surveillance agreements with them.
- incompatible 10y agoI think it would apply to foreign currency ETFs, since the foreign exchange markets aren't exchanged-based. Foreign currencies aren't commodities though, so apparently it's completely different situation to a commodity like bitcoin.