Bitcoin ETF

Bitcoin

The U.S. Securities and Exchange Commission’s (SEC) Commissioner Caroline Crenshaw informed senators on Thursday that she was unable to approve bitcoin exchange-traded products earlier this year due to widespread fraud in the cryptocurrency markets.
During a Senate Banking Committee nomination <a href="https://www.banking.senate.gov/hearings/07/01/2024/nomination-hearing" target="_blank" rel="noopener noreferrer nofollow">hearing</a>, Crenshaw and other candidates for Senate confirmation presented their records for scrutiny. Only a small amount of attention was paid to crypto concerns, even when it came to grilling Crenshaw for her next SEC term.
After losing a legal battle with Grayscale in January, the SEC shifted its stance on bitcoin spot exchange-traded funds (ETFs). Commissioner Crenshaw maintains <a href="https://www.sec.gov/newsroom/speeches-statements/crenshaw-statement-spot-bitcoin-011023" target="_blank" rel="noopener noreferrer nofollow">opposition</a>, arguing they are exchange-traded products (ETPs), not ETFs, subject to distinct regulations.
According to the commissioner, the agency’s approval of the Bitcoin (BTC) products will “put us on a wayward path that could further sacrifice investor protection.”
She reaffirmed on Thursday that she felt compelled to oppose it “given the significant fraud in the underlying spot markets globally, given the opacity,” while considering whether it was in the public interest.
In January, Crenshaw worried these products would flood the market, affecting Americans’ retirement savings due to fraud in bitcoin spot markets. Her organization is currently examining comparable trading tools for Ethereum’s ether (ETH).
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/07/09/us-senate-pushes-department-of-defense-to-explore-blockchain/" target="_blank" rel="noopener noreferrer nofollow">US Senate Pushes Department of Defense To Explore Blockchain</a>
</blockquote>

Senate Grills SEC Commissioner on Bitcoin ETF Fraud Concerns

The Crypto Times

Artikel lain yang dipublikasikan pada 11 Jul 2024

Zero Hash Integrates Sui Blockchain Accessibility

Top undervalued altcoins To Record 10X surge in 2024!

Bitcoin Mining Stocks Marathon Digital, CleanSpark And Riot Platforms Are Rising: What's Going On?

Investors Pour Millions into Bitcoin ETFs

Solana’s stablecoin inflow spikes: Is SOL about to moon again?

Get Started with Mass NFT Sending

Bergabunglah dengan buletin gratis kami untuk pembaruan kripto harian!