U.S President Donald Trump has appointed the Republican Elad Roisman as SEC Commissioner.
The step might have come in preparation for Bitcoin ETF approval, as per financial analysts.
Bitcoin ETF approval made another advancement toward certainty currently, as the U.S President Donald Trump appointed a pro-crypto SEC commissioner- the step that shifts the voting balance in favour of bitcoin ETF approval.
Appointing the Republican Elad Roisman -whom the media described as Pro-Crypto- was announced the last week, which is the fourth of its kind for President Trump.
In his turn, Hester Peirce- One of Trump’s previous SEC commissioner appointees, chose the name of “CryptoMom” for adopting a pro-bitcoin ETF stance.
Having implied he would focus the the SEC’s legislative agenda on digital currency regulations, Trump’s latest appointee Elad Roisman, is also looked at as being pro-crypto.
“The SEC must examine and re-examine its rules, regulations and guidelines to ensure that they are still working as intended to accomplish the SEC’s mission. This is most recently manifested in areas such as data protection and cybersecurity, as well as the emergence of new investments and technologies such as initial coin offerings and blockchain“, said Roisman in last July.
Roisman stressed that it is important for the SEC to be fair and transparent when approaching the challenges of regulating a startup industry such as crypto.
“It is essential that the SEC approach these new challenges in a fair and transparent manner, provide clarity and certainty to the markets and investors, and enforce the laws and regulations that hold market participants accountable.”, said Roisman.
Elad Roisman May Change the Game
It is mentioned that SEC has five commissioners. A commissioner’s term lasts five calendar years.
Commissioners are appointed by the President of the United States with the advice and consent of the Senate. Each Commissioner’s term lasts five years, with the term ending on June 5 every year, with the ability to extend the service of both the Chairman and the Commissioner for approximately 1.5 years, provided a replacement is not yet available.
With its five-person commissioner panel, there is a feel that SEC’s scale will prevail in favour of the approval of bitcoin ETF, while the regulatory body is considering meanwhile the VanEck SolidX Bitcoin Trust ETF as well, where it is expected to get approved by the the end of the year, or the beginning of the next one.
Financial observers read that the new SEC commissioner Elad Roisman, is likely to lead SEC toward approving a bitcoin ETF, expecting him to join Hester Peirce as two bitcoin ETF supporters on the board, while this reading stays within the expectation space only, without having any clear sign for which direction Roisman would vote on a bitcoin ETF.