Quote from: aso118 on September 23, 2018, 05:15:13 AM

I wonder why the SEC is going through this farce again.
...

I´d suspect that there are at least two reasons:

1. They want to be able to eventually approve an ETF when
the market is more mature and cryptocurrency has become
an important part of the whole financial industry. It is obviously
in their interest if the US is part of a paradigm change if it is
too happen at all. Therefore they are going through this farce again,
because dismissing all future ETF applications would drive
the Bitcoin derivatives industry away from the US.

2. They are a government agency that has a budget
of hundreds of millions of $. They obviously have to do
something to justify that they receive that much of the
tax dollars of the US citizens. It is helpful if they can reject
a Bitcoin ETF from time to time, because they can simply
regurgitate the same arguments every single time
("too much volatility", "consumer protection", "the market
is manipulated", "shady exchanges"...).