Chair

Bitcoin

Gary

Four prominent US Congressmen are asking SEC Chair <a href="https://news.todayq.com/gary-gensler-warns-crypto-enthusiasts-predicts-the-tokens-will-collapse/">Gary Gensler</a> to quickly authorize spot Bitcoin exchange-traded funds (ETFs), in an unprecedented move. They point to the current Bitcoin value of $26,216 as a reason for prompt action. 
Representatives Mike Flood, Wiley Nickel, <a href="https://news.todayq.com/republican-tom-emmer-voices-privacy-concerns-over-cbdc/">Tom Emmer</a>, and Ritchie Torres argue that the SEC’s alleged discrimination against spot Bitcoin ETFs is unjust, referencing Grayscale Investments’ <a href="https://news.todayq.com/sec-forced-to-reconsider-grayscales-spot-bitcoin-etf-application/">legal victory</a> and the subsequent labeling of the SEC’s reasoning as “arbitrary and capricious.” They emphasize the need for enhanced investor protection and transparency through regulated spot Bitcoin ETFs. 
[W]e urge you to approve the listing of spot-bitcoin ETPs immediately. 
The lawmakers collectively urge Gensler to “approve the listing of spot-bitcoin ETPs immediately,” with a key hearing on the horizon before the House Financial Services Committee, where all four members have significant influence. Despite a looming government shutdown threat, the hearing is expected to proceed. 
Bipartisan letter from 
Despite anticipation in the crypto market, the SEC has yet to approve any spot Bitcoin ETFs. Following the SEC’s court loss to Grayscale in August, hopes were high for reconsideration, but the regulator has since delayed decisions on ETFs from major firms like <a href="https://news.todayq.com/bitcoin-etf-application-by-blackrock-accepted-by-sec-positive-steps-towards-crypto-market/">BlackRock</a>, WisdomTree, Invesco Galaxy, Valkyrie, Bitwise, VanEck, and Fidelity. The cryptocurrency industry and investors eagerly await developments that could open new investment avenues and lend further legitimacy to the crypto space. 
© Todayq News

US Congress pushes for swift approval of spot Bitcoin ETFs amid SEC standoff

Todayq News

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