US House Financial Services Committee Chairman Patrick McHenry<\/strong> taken<\/a> to Twitter to indirectly support BlackRock iShares Spot Bitcoin ETF<\/strong>attacking the Gary Gensler-led Securities and Exchange Commission’s (SEC) regulation by enforcement approach to regulating the digital asset market.<\/p>\n Patrick McHenry said he will closely watch the US SEC’s response to spot Bitcoin ETF filing by financial services giant BlackRock’s iShares.<\/p>\n <\/p>\n your move, @GaryGensler<\/a>,<\/p>\n The @SECGov<\/a> must not pick winners and losers based on inconsistent factors. I’ll be watching this closely. https:\/\/t.co\/iKPiQgPwQU<\/a><\/p>\n \u2014 Patrick McHenry (@PatrickMcHenry) June 15, 2023<\/a><\/p>\n <\/p>\n<\/blockquote>\n In addition, Chairman <\/span>Patrick McHenry<\/span><\/span> has scheduled two US SEC <\/span>oversight hearings on June 22. The hearings are titled \u201cOversight of the SEC<\/a><\/b>“and”Oversight of the SEC’s Division of Trading and Markets<\/a><\/b>, <\/span><\/p>\n The SEC’s Division of Trading and Markets oversees FINRA. The US House oversight subcommittee is likely to question Trading and Markets Director <\/span>Haoxiang Zhu<\/strong> about the FINRA’s approval of Prometheum as a special purpose broker-dealer as a qualified crypto custodian.<\/span><\/span><\/span><\/p>\n The crypto community alleged that Prometheus’s US SEC and FINRA approval<\/a> is “controversial.” Moreover, Representative mike flood<\/strong> calls Prometheum’s US SEC and FINRA approval as \u201cnonsense\u201d as the firm doesn’t even offer trading in top crypto assets Bitcoin (BTC) and Ethereum (ETH).<\/p>\n Prometheus co-CEO Aaron Kaplan<\/strong> has become the latest mouthpiece for <\/span>Gary Gensler<\/span>, During the digital asset regulatory clarity hearing, Kaplan argued the current regulatory frameworks set up by the US SEC are the clear path for the digital asset industry.<\/span><\/p>\n The US House Financial Services Committee Chair promises to bring clear regulatory frameworks for digital assets and stablecoins. Patrick Henry draft stablecoin bill<\/a> marks the first step towards the regulation of crypto in the US.<\/p>\n <\/p>\n Moreover, the House committee will hold a committee vote on a digital asset bill<\/a> to bring clarity to the crypto industry next month. It will also provide clarity on whether the Securities and Exchange Commission<\/strong> (SEC) or the Commodity Futures Trading Commission<\/strong> (CFTC) has jurisdiction over the crypto industry.<\/p>\n Also Read: US SEC Lawsuit Against Terraform And Do Kwon Could Be Dismissed<\/a><\/strong><\/p>\n The crypto market recovered as traders reacted immediately to the announcement of BlackRock iShares filing a spot bitcoin etf application<\/a>,<\/p>\n bitcoin price<\/a> jumped 3% in the last 24 hours, with the price currently trading above $25,500. The 24-hour low and high are $24879 and $25735, respectively. Meanwhile, ether price<\/a> also soared over 2% in the past 24 hours. ETH price is currently trading at $1,665.<\/p>\n\n
Crypto Community Outrage Over Prometheus’s Stance on Crypto<\/h2>\n
Crypto Market Rises in Anticipation of BlackRock Bitcoin ETF<\/h2>\n
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