In recent months, many major firms such as BlackRock and Fidelity have filed for a spot Bitcoin ETF. SEC Chairman Gary Gensler made some statements regarding spot Bitcoin ETF applications. Gensler said the SEC’s “new look” takes court decisions into account.
Court decisions will be taken into account for Spot Bitcoin ETF!
U.S. Securities and Exchange Commission Chairman Gary Gensler announced Thursday the agency’s “new look” at spot Bitcoin ETF applications. Gensler said the SEC is taking note of recent court decisions. cryptokoin.comAs you follow from , the SEC has rejected previous applications for a spot BTC ETF for years. However, a panel of judges who ordered the regulator to reconsider a failed bid by Grayscale Investments may be starting to tip the balance. The agency is currently evaluating more than a dozen applications from major asset managers. These include giants such as BlackRock and Fidelity. Gensler made the following statement in an interview with CNBC on Thursday:
We have rejected some of these applications in the past. But courts in the District of Columbia have weighed in on the issue. Therefore, based on these court decisions, we are looking at this issue with new eyes.
SEC is evaluating several spot Bitcoin ETFs
Three judges on the U.S. Court of Appeals for the D.C. Circuit ruled in August that the SEC should reconsider Grayscale’s spot Bitcoin ETF offering because the asset management firm sued the agency last year after its plan to convert its flagship GBTC fund was rejected. Specifically, the court addressed the SEC’s disparate treatment of spot Bitcoin ETFs and similar funds based on regulator-approved futures contracts. In September, Gensler told lawmakers he was reviewing “numerous files related to Bitcoin ETFs” as well as the court’s decision.
Crypto is full of scams, according to SEC Chairman!
Meanwhile, Gensler says crypto is still rife with fraud. That’s why Gensler reiterated his view that the crypto industry is not very compliant with current securities laws. In this context, Gensler underlined the following points:
There are too many scams and bad actors in the crypto space. There is a lot of non-compliance not only with securities laws but also with other laws intended to prevent money laundering and protect the public from bad actors.
Meanwhile, AML has become a focus for the industry following calls from Congress and the Treasury Department. Last month, the Treasury asked MPs for more powers to go after illegal actors in the crypto sector. He also requested that they provide enforcement tools.
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