I hear so much about the SEC in the last few weeks. Can anyone explain what's so important about this decision. why it's good for the market, and why we get rejected?
What's so important about it:It can attract institutional investors into the market and can potentially solidify Bitcoin's status as an asset class. It's not without disadvantages though, as you can tell by the split opinions of the community.
Why it's good for the market:It can potentially raise demand and, consequently, prices.
Why we get rejected:The SEC thinks the Bitcoin market is too vulnerable to manipulation by unknown individuals, among a few other more minor things. This specific factor likely means no Bitcoin ETF will be approved in the near future.