1. Home
  2. Daily Hodl
  3. Four US Lawmakers Urge SEC Chair Gary Gensler To Approve Spot Bitcoin ETPs ‘Immediately’
Four US Lawmakers Urge SEC Chair Gary Gensler To Approve Spot Bitcoin ETPs ‘Immediately’

Four US Lawmakers Urge SEC Chair Gary Gensler To Approve Spot Bitcoin ETPs ‘Immediately’

0

Source: Daily Hodle

Four members of the House Financial Services Committee are asking U.S. Securities and Exchange Commission (SEC) chair Gary Gensler to reconsider his agency’s stance on spot Bitcoin (BTC) exchange-traded products (ETPs).

In a letter dated September 26th, Representatives Mike Flood (R-Neb.), Tom Emmer (R-Minn.), Wiley Nickel (D-N.C.) and Ritchie Torres (D-N.Y.) tell Gensler that the nation’s securities watchdog should stop discriminating against spot Bitcoin ETPs following the court ruling in the lawsuit filed by crypto asset manager Grayscale against SEC.

Last month, the three-judge panel of the District of Columbia Court of Appeals ruled that the SEC’s decision to deny Grayscale’s application to convert its Grayscale Bitcoin Trust (GBTC) to a spot Bitcoin ETP without a “coherent explanation” is unlawful.

“Following the Court of Appeal’s decision, there is no reason to continue to deny such applications under inconsistent and discriminatory standards.”

The lawmakers say greenlighting a spot Bitcoin ETP is in the interest of investors since this will make access to the flagship crypto asset safer and more transparent.

“Congress has a duty to ensure the SEC approves investment products that meet the requirements set out by Congress. To that end, we urge you to approve the listing of spot-bitcoin ETPs immediately.”

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines

&nbsp

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

The post Four US Lawmakers Urge SEC Chair Gary Gensler To Approve Spot Bitcoin ETPs ‘Immediately’ appeared first on The Daily Hodl.

Go to Source
Author: Rhodilee Jean Dolor