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<a href="https://bitcoinworld.co.in/us-senators-urge-gensler-to-halt-crypto-etf-approval-citing-enormous-risks/" rel="noopener noreferrer nofollow"></a>Two US senators have called on the Securities and Exchange Commission (SEC) Chair, Gary Gensler, to halt the approval of any further crypto exchange-traded fund (ETF), citing risks to retail investors.&nbsp;In a <a href="https://twitter.com/AlexanderGrieve/status/1768373756169261076" rel="noopener noreferrer nofollow">letter</a> to SEC Chair Gary Gensler, Senators Jack Reed and Laphonza Butler expressed concerns about the potential for fraud and manipulation in the thinly traded markets for smaller cryptocurrencies.<blockquote class="twitter-tweet">The success of the BTC spot products clearly ruffling some feathers on the Hill. <a href="https://twitter.com/SenatorJackReed?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SenatorJackReed</a> and <a href="https://twitter.com/Senlaphonza?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@Senlaphonza</a> write to the <a href="https://twitter.com/SECGov?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@SECGov</a> urging: -no further ETPs for other tokens -make life difficult (i.e. examinations/reviews) for brokers and advisers that recommend BTC ETPs <a href="https://t.co/enxdumC02N" rel="noopener noreferrer nofollow">pic.twitter.com/enxdumC02N</a>— Alexander Grieve (@AlexanderGrieve) <a href="https://twitter.com/AlexanderGrieve/status/1768373756169261076?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">March 14, 2024</a></blockquote>“Retail investors would face enormous risks from ETPs referencing thinly traded cryptocurrencies or cryptocurrencies whose prices are especially susceptible to pump-and-dump or other fraudulent schemes,” the senators wrote.See Also: <a class="row-title" href="https://bitcoinworld.co.in/craig-wright-is-not-satoshi-nakamoto-according-to-uk-judge-ruling/" rel="noopener noreferrer nofollow">Craig Wright Is not Satoshi Nakamoto, According to UK Judge Ruling</a>Reed and Butler also urged the SEC to not allow the recent approval of spot Bitcoin ETFs to become a precedent for further approvals.&nbsp;They argued that while the Bitcoin market is more established and well-scrutinized, the markets for other cryptocurrencies are more vulnerable to misconduct.&nbsp;The senators also called for increased oversight of the already launched Bitcoin ETF products, including regulatory scrutiny of brokers and advisors.Some industry observers believe that the success of spot Bitcoin ETFs has upset some lawmakers on Capitol Hill.&nbsp;“The blockbuster success of the Bitcoin ETF is upsetting to high-ranking Dems. Buyer’s remorse,” said ETF analyst Eric Balchunas.<blockquote>Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.</blockquote>#Binance #WRITE2EARNThe post <a href="https://bitcoinworld.co.in/us-senators-urge-gensler-to-halt-crypto-etf-approval-citing-enormous-risks/" rel="noopener noreferrer nofollow">US Senators Urge Gensler To Halt Crypto ETF Approval, Citing “Enormous Risks”</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

US Senators Urge Gensler To Halt Crypto ETF Approval, Citing “Enormous Risks”

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