US Regulators Have Double Standards When It Comes to Bitcoin

Bitcoin exchange-traded funds, or ETFs, have faced unfair pushback from U.S. regulators, according to VanEck director and digital asset specialist Gabor Gurbacs.

"There's a persistent double standard against Bitcoin and digital assets, which I think is wrong," Gurbacs told host Max Keiser on a recent episode of the Keiser Report.

In its simplest form, a Bitcoin ETF is a financial product traded officially on mainstream stock markets, with shares representing exposure to Bitcoin's price.

A Bitcoin ETF might be cash-backed or BTC-backed, depending on the product.

This avenue essentially allows folks Bitcoin investment and trading exposure through traditional market methods and brokers.

Over the past two to three years, the U.S. Securities and Exchange Commission, or SEC, has denied a massive number of Bitcoin ETFs.

VanEck, in collaboration with SolidX, submitted one of the most notable Bitcoin ETFs, facing a plethora of delays and difficulties before dropping its proposition.

For Bitcoin ETF approval, regulators say they need proof that Bitcoin exhibits true price action, or "Real price discovery," versus market manipulation.

Noting Bitcoin holds efficient price discovery, even better than certain commodities on the market, Gurbacs said he revealed proof of such data to regulators.

Alternative investment firm Wilshire Phoenix faced one of the most recent Bitcoin ETF denials in February 2020.