Cameron Winklevoss sharply criticizes the SEC

The founder of crypto exchange Gemini, Cameron Winklevoss, has sharply criticized the SEC over its handling of Bitcoin ETF filings.

Last Saturday, Cameron Winklevoss celebrated a very special birthday: exactly ten years ago, he and his brother Tyler had applied for the first Bitcoin Spot ETF - unsuccessfully.

The founder of the crypto exchange Gemini used the anniversary to criticize the U.S. Securities and Exchange Commission (SEC).

On Twitter, Winklevoss wrote: "The SEC's decades-long refusal to approve these products is a complete and total disaster for American investors and shows that the SEC is a failing regulator."

With its anti-Bitcoin stance, the SEC has denied investors access to the strongest asset of the past decade, Winklevoss added.

The SEC has also forced investors to buy "toxic products," such as the Grayscale Bitcoin Trust.

Winklevoss also sees the SEC as responsible for driving crypto enthusiasts into the arms of unregulated and non-US-based exchanges - he cites FTX in this regard.

Just a few days ago, the SEC rejected Bitcoin ETF applications from BlackRock and Fidelity as "insufficient."