Winklevoss Ruling Highlights Subjective Aspects Of SEC Mission

By Buddy Donohue ( November 29, 2018, 2:13 PM EST) -- A lot has been written about the decision of the U.S. Securities and Exchange Commission to deny the application of Bats BZX Exchange Inc. for a rule change to permit the listing and trading of shares of the Winklevoss Bitcoin Trust.[1] The debate was also amplified by a dissent from SEC Commissioner Hester M. Peirce to that decision.[2] Peirce has also spoken more recently on this topic in a speech she delivered on Sept. 12.[3] The alternative perspective that I would like to explore is how this debate is really about the different philosophies that SEC commissioners can have regarding the appropriate role of the commission....

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