Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
  • DIRECTORY
  • CRYPTO
    • ETHEREUM
    • BITCOIN
    • ALTCOIN
  • BLOCKCHAIN
  • EXCHANGE
  • ADOPTION
  • TRADING
  • HACKING
  • SLOT
  • TRADE
Crypto Flexs
Home»ADOPTION NEWS»SEC Chairman Gary Gensler was silent on the outlook for spot Bitcoin ETFs, saying he would not ‘prejudge’ the issue.
ADOPTION NEWS

SEC Chairman Gary Gensler was silent on the outlook for spot Bitcoin ETFs, saying he would not ‘prejudge’ the issue.

By Crypto FlexsNovember 29, 20233 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
SEC Chairman Gary Gensler was silent on the outlook for spot Bitcoin ETFs, saying he would not ‘prejudge’ the issue.
Share
Facebook Twitter LinkedIn Pinterest Email

Securities and Exchange Commission Chairman Gary Gensler remained silent Wednesday when reporters asked whether the industry could soon see any action related to spot Bitcoin ETF applications under review.

Gensler, speaking Wednesday at the Healthy Markets Association conference, said he would not “prejudge” the issue. He previously called The agency’s review process is a “time-tested process.”

The cryptocurrency industry has been waiting with bated breath for authorities to approve what will be the first spot Bitcoin ETF. Several applications have been submitted in recent months from asset managers including BlackRock and Fidelity, but all have so far been delayed.

“When an asset manager wants to take something public, these publicly traded products have to register with the SEC and go through filings similar to a public offering, like an IPO,” Gensler said. interview with Bloomberg TV last month.

“So it is the job of the corporate finance department to provide feedback, and of course the trading and markets department reviews the documents,” he continued. “This is a time-tested process that goes back decades. The SEC staff is called the Public Review Team, but that group responds and provides feedback to potential issuers.”

The SEC tuesday A new meeting was held with Invesco and BlackRock representatives to discuss potential approaches to address concerns about “balance sheet impacts and risks.” I also met with the agency. grayscale BlackRock did the same last week, according to a memo released by the SEC.

Gensler reiterates his stance on cryptocurrencies

In remarks Wednesday, Gensler reiterated his position that Bitcoin is considered a commodity and expressed concerns about the cryptocurrency industry as a whole.

The SEC has taken enforcement actions against cryptocurrency companies over the past year, including U.S.-based Coinbase and Binance, the world’s largest cryptocurrency exchange.

When asked by a reporter what he thought of Commodity Futures Trading Commission Chairman Rostin Behnam’s comments that the derivatives regulator needs more authority to oversee cryptocurrencies, Gensler said the CFTC would be given more authority, especially on Bitcoin. He said he supports it.

Gensler, who was once chairman of the CFTC, has previously said that many cryptocurrencies are securities.

Howey test

In litigation, the SEC often cites the Howey Test, a 1946 U.S. Supreme Court case involving citrus groves, to determine whether a transaction is an investment contract and therefore subject to securities laws. However, this approach has drawn criticism from some, including Coinbase. stretched out Howey’s claims are “beyond recognition.”

“In this field, it’s like common sense versus hyperbole,” Gensler said. “This is a sector rife with bad actors, rife with fraud, manipulation and money laundering.”

Gensler cited a previous speech comparing non-compliance in the cryptocurrency industry to the 1920s, before federal securities laws were enacted.

“It was kind,” Gensler said Wednesday.

When asked what Gensler would say to cryptocurrency investors or people curious about cryptocurrencies, the chairman said, “Be careful, be careful, be careful.”


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

Gala Games improves leader board rewards and introduces preference systems.

June 20, 2025

Ether Leeum Whale starts a $ 11 million leverage betting in the 30% increase in ETH prices.

June 12, 2025
Add A Comment

Comments are closed.

Recent Posts

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025

No Altcoin Season 2025 ? Why Bitcoin Dominance Is Holding Strong In The Crypto Market

June 28, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Why It Matters For Every Crypto Investor

June 27, 2025

Safe smart account audit summary

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

CARV’s New Roadmap Signals Next Wave Of Web3 AI

June 27, 2025

Bybit Expands Global Reach With Credit Card Crypto Purchases In 25+ Currencies And Cashback Rewards

June 27, 2025

BYDFi Joins Seoul Meta Week 2025, Advancing Web3 Vision And South Korea Strategy

June 27, 2025

Crypto Flexs is a Professional Cryptocurrency News Platform. Here we will provide you only interesting content, which you will like very much. We’re dedicated to providing you the best of Cryptocurrency. We hope you enjoy our Cryptocurrency News as much as we enjoy offering them to you.

Contact Us : Partner(@)Cryptoflexs.com

Top Insights

Checkpoint #4: Berlinterop | Ether Leeum Foundation Blog

June 28, 2025

TRON Price Propects USDT supply exceeded $ 80 billion

June 28, 2025

Stablecoin startups surpass 2021 venture capital peaks as institutional money spills.

June 28, 2025
Most Popular

Why did Dogecoin price drop today?

January 8, 2025

NVIDIA Maxine and Texel: Pioneers in Scalable AI Innovation in Real-Time Video and Audio

September 17, 2024

Wyoming’s governor signed a bill granting DAO legal status in the state.

March 8, 2024
  • Home
  • About Us
  • Contact Us
  • Disclaimer
  • Privacy Policy
  • Terms and Conditions
© 2025 Crypto Flexs

Type above and press Enter to search. Press Esc to cancel.