| A Bi-partisan group of lawmakers have argued in a letter directed to the Chair of the Securities and Exchange Commission Chair, Gary Gensler, that efforts blocking the approval of spot bitcoin exchange traded funds need to stop.
The industry at large is awaiting for the regulator to act after the SEC lost a court fight over its decision to reject Grayscales spot bitcoin ETF. The primary argument in the letter follows that the spot bitcoin ETF is indistinguishable from the crypto futures ETF for which the agency has already approved. Because of this, the regulator should move forward and approve applications requesting SEC approval from industry candidates, such as Fidelity, BlackRock’s iShares and Grayscale Investments, which shares CoinDesk’s parent company, Digital Currency Group. [1] Last month, a judge in the D.C Circuit Court of Appeals Instructed the SEC to rethink its view on these applications. Circuit Judge Neomi Rao wrote that the agency’s rejection in the grayscale case has been “arbitrary and capricious”.[2] The SEC approval may be further delayed by the government shutdown if no decision on government spending is made by the 30th of September.[3] __________________ 3.https://cointelegraph.com/news/crypto-bills-delayed-us-government-shutdown |
