Want a Spot Market Bitcoin ETF? Then Deal With the Consequences

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You wanted a highly regulated bitcoin product? Well, that might require giving up a lot of information and data to the regulators. Opinion by gckaloudis for The Node.

“there needed to be a ‘surveillance-sharing agreement with a regulated market of significant size relating to the underlying assets’ to deter any potential manipulation.”

There is, unfortunately, no exact definition of a “regulated market” and “significant size.” So yes, it’s unclear. The bigger point amid all this ETF talk is that Coinbase is not a shoo in as an adequate data provider partner.taking surveillance to the next level“... what’s more likely to influence the SEC’s decision is an information-sharing deal that flips the position of power in the arrangement and gives regulators the right to demand extra background.

Critically, an information-sharing agreement could also include personal information such as a customer’s name and address. This may not bode well for privacy advocates in crypto. However, it is also the completely unsurprising end state of bringing a spot bitcoin ETF to market, or perhaps any financialization of crypto.

 

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