September 13, 2022
The Chamber of Digital Commerce has declared its support for a Bitcoin (BTC) ETF spot in the United States. In the report titled The Crypto Conundrum, the organization does not mince words as they ask why the SEC is refusing to approve a Bitcoin ETF. The Chambers representatives claim that all of the SECs requirements have been met, but a Bitcoin ETF is still as far away from approval as it was when the Winklevoss twins first requested it back in 2013. The Chamber argues that capital which could have been invested in the United States has instead been deployed in other, more innovative countries. These other advanced economies, including Sweden, Switzerland, Germany, Canada, and Australia, have already approved Bitcoin ETFs. More importantly, there were no reported instances of hacking or theft in these countries, as well as no indications of market manipulation either. The Chamber of Digital Commerce is a trade association that represents the blockchain technology ecosystem. Its purpose is to advance digital assets and blockchain technologies mainstream acceptance and usage. Despite its title though, it is not a governmental institution.
