Securities and Substitution Commissioner Hester Peirce has voiced concerns over the United States lagging backside global jurisdictions in adopting cryptocurrency commutation-traded funds (ETFs).

During an online appearance at the Bitcoin (BTC) conference "The B Word," Peirce pointed out that many other countries such every bit Canada have already been trading crypto ETFs, while the U.Due south. is still deciding whether to corroborate such a trading instrument. She stated:

"I would never have imagined that I would be in this situation where nosotros would not yet have approved one and other countries are moving ahead."

The SEC commissioner besides mentioned her concern that U.South. regulators could exist overstepping their remit by forcing the local crypto industry to play by a separate set of rules than everyone else.

"We're not a merit regulator, and then we shouldn't be in the business of deciding whether something is good or bad, an investor is thinking of their entire portfolio, and sometimes we're thinking in 1-off terms of a particular product standing on its own, and we forget that people are building portfolios," she noted.

Peirce's latest remarks come up in line with her recent criticism of U.Southward. crypto regulation, with the SEC commissioner last calendar month once over again urging authorities to refrain from overregulating the crypto industry. Despite calling for a softened regulatory stance on crypto, the commissioner still believes that clear crypto rules are critical for the industry to thrive without fearfulness of breaking the police force. A long-running crypto advocate, Peirce is widely referred to equally "Crypto Mom" within the crypto community.

Related: Fund direction house Global X files with the SEC for a Bitcoin ETF

Every bit previously reported, U.Southward. regulators take delayed multiple approvals of crypto ETFs recently later on consistently postponing such decisions over the by several years. In the meantime, some countries have already approved or launched Bitcoin ETF trading, with 3iQ and CoinShares' Bitcoin ETF going live on the Toronto Stock Commutation in April. Canadian fund managers Purpose Investments and Evolve Funds Group previously launched Bitcoin ETF trading as well.