July 16, 2018
The US can no longer afford to take a wait and see approach to Bitcoin and cryptocurrencies. If it does the US will have single-handedly misrepresented the interests of their citizens and will allow the country to fall behind other countries who are laying down the groundwork for adoption for their people and access to a new way of life unprecedented in our lifetime. The US owes this opportunity to its citizens while at the same time going after the charlatans who seek to take advantage of this opportunity by committing fraud against unsuspecting individuals. Processes and protocols must be put in place to filter out the frauds, punish them, and help clean up the sector. For many this is an opportunity of a lifetime and cannot be ignored nor can it allow people who know nothing about the technology be put in a position to make decisions regarding cryptocurrencies. There is still much to learn about this technology and the benefits it stands to create for all people accepting of this technology.
Ther are many institutions that are ready to invest in this digital currency. The US has always been on the cutting edge of technology but the landscape has become increasingly competitive due to the internet, which is a great thing. But the US has also been taking a wait and see approach to fast-developing technology that if left behind would be a catastrophic mistake for the country and for its citizens. It is understood that the SEC is there to protect the retail investor from fraud and I get it. The more people that lose their life savings the more desperate individuals can become leading towards survival which can mean citizens doing whatever they must for their family and their way of life. This ruling is important for the successful future of the US and its citizens and failure to approve this ETF would mean failure for the citizens to catch up to other peoples of other countries and would leave the US taking a backseat to a new global economy that stands to benefit all those accepting of this technology and this new economy. The US must not risk falling behind further amidst the rapidly changing environment.
Thank you - Pablo