A group of lawmakers pressed SEC Chair Gary Gensler to urgently allow the listing of a spot bitcoin ETF on Tuesday.
Reps. Mike Flood, R-Neb., Tom Emmer, R-Minn., Ritchie Torres, D-N.Y. and Wiley Nickel, D-N.C., urged Gensler to allow those listings, arguing a regulated spot bitcoin ETF would increase investor protection by making access to bitcoin more transparent and safer, according to a"Congress has a duty to ensure the SEC approves investment products that meet the requirements set out by Congress," they said."To that end, we urge you to approve the listing of spot-bitcoin ETPs immediately.
"The Court’s finding underscores the fundamental point," the lawmakers said."A spot bitcoin ETP is indistinguishable from a bitcoin futures ETP. Thus, the SEC’s current posture is untenable moving forward."The SEC has not yet greenlit a spot bitcoin ETF, although big name players including BlackRock and Fidelity have submitted applications for funds over the past several months.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
U.S. House Lawmakers Push SEC’s Gensler to Approve Spot Bitcoin ETF ‘Immediately’Members of the House Financial Services Committee – two from each party – wrote a letter to Securities and Exchange Commission Chair Gary Gensler urging ETF action.
Read more »
Gary Gensler Is Wrong About Proof-of-Stake TokensThe Securities Exchange Commission Chair said the 'investing public' may expect a return from staking. Polymesh's Graeme Moore argues that doesn't make these cryptocurrencies securities.
Read more »
Schwab slashes fees on more fixed income ETFs By ReutersSchwab slashes fees on more fixed income ETFs
Read more »
SEC charges 'Cash Flow King' podcaster in $11 million Ponzi schemeSecurities regulators say Matthew Motil of Ohio defrauded more than 50 people in a real estate investing scam.
Read more »
‘Cash-flow' podcaster made off with millions in Ponzi scheme, SEC allegesMatt Motil defrauded investors out of millions in an unsophisticated Ponzi scheme, the SEC alleged.
Read more »