SEC Chairman Gary Gensler posted on his personal X account today (22nd), stating that there are many violations in the cryptocurrency field, making it difficult for law-abiding participants to compete. However, the SEC quietly approved the Bitcoin spot ETF, which seems to contradict the above statement.
(Prior summary:
Bitcoin spot ETF approval date》Galaxy Digital predicts: SEC approval before January 10, 2024, due to Grayscale lawsuit clearance)
(Background supplement:
Bitcoin spot ETF gets the green light? SEC Chairman Gary Gensler: Will reconsider applications based on the “successful outcome” of the Grayscale case)
Today (22nd), Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), posted on his personal X account, stating:
Gary Gensler also attached a clip of his interview with CNBC on December 14th in this post, where he mentioned that there are too many violations in the cryptocurrency field, with numerous intermediaries claiming to be trading platforms and engaging in various activities that traditional finance does not accept. The SEC has successfully resolved numerous cases worldwide, and securities laws can help investors avoid fraud and manipulation.
The SEC is actually quietly arranging for the ETF to be approved.
Earlier today, senior Fox Business reporter Charles Gasparino tweeted on the X platform that the SEC is having a “rare” conference call with the applicant of the Bitcoin spot ETF and revealed that approval may be announced on January 10th.
Another Fox Business reporter, Eleanor Terrett, revealed in a tweet:
Further reading:
Key signal from SEC on ETF》”Bitcoin spot ETF” can proceed if implications of physical redemption are removed
SEC’s attitude confuses the public
Despite Gary Gensler’s post stating that there are many violations in the cryptocurrency field, the approval of the Bitcoin spot ETF is accelerating.
According to a Reuters report on December 15th,
the SEC rejected Coinbase Global’s (COIN.O) petition to establish new rules for the digital asset field. Gary Gensler responded that existing laws and regulations apply to the current cryptocurrency market.
At the time, Coinbase’s Chief Legal Officer Paul Grewal released a statement saying, “Please treat our industry fairly. No one believes that the law is clear or that there is no more work to be done. We should work together to develop laws and rules that are beneficial to consumers and U.S. innovation.”
After being rejected by the SEC, Grewal shared a court document on the social media platform X and stated that the SEC’s decision is “arbitrary and capricious” and an “abuse of discretion.” He expressed his dissatisfaction with the contrasting attitude of the SEC.
Related Reports
Bitcoin spot ETF approval date》Galaxy Digital predicts: SEC approval before January 10, 2024, due to Grayscale lawsuit clearance
2024 is the bull market! Michael Saylor: BTC spot ETF is the most important development on Wall Street in 30 years
Contradicting the SEC》Grayscale requests GBTC to allow “in-kind redemption” and all Bitcoin spot ETFs should be approved simultaneously
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