According to this article by Coindesk, the ETF application by Blackrock aims to "mitigate against market manipulation" through Surveillance Sharing Agreements (SSAs).
"Surveillance-sharing agreements allow for the sharing of information about market trading activity, clearing activity, and customer identification, allowing for little possibility of market manipulation."
Are we supposed to be okay with that? I mean sure, a BTC ETF being approved will drive up the price, but how is that helping the overall use and idea of bitcoin and crypto?
There's no self-custody involved, no privacy at all, no potential use cases. In my opinion, this is a strong effort for "over-regulation". Dave Weisberger correctly pointed out that all this data is already public and regulators can just obtain it or use some of the already existing services to obtain more info.
Gone are the days where people actually vouched for decentralization, privacy and self-custody. We are now at a stage where privacy coins are being delisted from exchanges and we're celebrating huge asset managers and major banks entering with their controlled ETFs.
[link] [comments]
You can get bonuses upto $100 FREE BONUS when you:
π° Install these recommended apps:
π² SocialGood - 100% Crypto Back on Everyday Shopping
π² xPortal - The DeFi For The Next Billion
π² CryptoTab Browser - Lightweight, fast, and ready to mine!
π° Register on these recommended exchanges:
π‘ Binanceπ‘ Bitfinexπ‘ Bitmartπ‘ Bittrexπ‘ Bitget
π‘ CoinExπ‘ Crypto.comπ‘ Gate.ioπ‘ Huobiπ‘ Kucoin.
Comments