Prices of major digital coins remained little changed in Asia on Tuesday as the crypto space stayed quiet. Hopeful remarks from U.S. securities official regarding a Bitcoin exchange-traded fund (ETF) received some attention among the crypto traders.
Hester Pierce, the U.S. Securities and Exchange Commission (SEC) Commissioner, expressed her support for digital assets at a speech at the University of Missouri School of Law.
“We rightfully fault investors for jumping blindly at anything labelled crypto, but at times we seem to be equally impulsive in running away from anything labelled crypto,” said Pierce.
“We owe it to investors to be careful, but we also owe it to them not to define their investment universe with our preferences,” she added.
Pierce also said that policymakers and regulators should amend existing rules to include new technological protocols. She noted that the SEC plans to clarify when securities laws might apply to crypto token sales.
Her speech followed that of her peer Robert Jackson Jr., who said on Feb. 8 that a Bitcoin ETF would eventually be approved. The news sent Bitcoin higher on the same day, and the digital coin has remained near a three-week high at around $3,600 ever since.
On Tuesday morning in Asia, Bitcoin slid 0.23% to $3,619.2 by 11:11 PM ET (04:11 GMT).
Ethereum edged up 0.30% to $120.55, XRP traded 0.73% lower to $ 0.30146, and Litecoin lost 0.67% to $43.76.
In other news, Spain’s central bank warned citizens of the risks arising from transacting unregulated cryptocurrencies. The Bank of Spain issued a notice stressing that the country has yet to pass any legislation regarding cryptocurrency. It also said that crypto exchanges are not supervised or authorised by the bank either.