{"id":163399,"date":"2023-09-27T03:19:49","date_gmt":"2023-09-26T21:49:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=163399"},"modified":"2023-09-27T03:19:49","modified_gmt":"2023-09-26T21:49:49","slug":"u-s-lawmakers-push-sec-for-immediate-bitcoin-etf-approval-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/u-s-lawmakers-push-sec-for-immediate-bitcoin-etf-approval-crypto-news\/","title":{"rendered":"U.S. Lawmakers Push SEC for Immediate Bitcoin ETF Approval – Crypto News"},"content":{"rendered":"

<\/p>\n

\n

In light of recent court rulings, a bipartisan coalition of lawmakers is <\/span>urging<\/span><\/a> the U.S. Securities and Exchange Commission (SEC) Chair, Gary Gensler, to hasten the approval of spot Bitcoin exchange-traded funds (ETFs).<\/span><\/p>\n

Court Ruling Challenges SEC Stance<\/h2>\n

Additionally, Grayscale Investments, a player in the crypto industry, achieved a <\/span>legal milestone <\/span><\/a>last month. The U.S. Court of Appeals for the D.C. Circuit instructed the SEC to reevaluate their rejection of Grayscale\u2019s spot Bitcoin ETF proposal.\u00a0<\/span><\/p>\n

<\/p>\n

This decision highlighted the SEC\u2019s inconsistent stance between spot Bitcoin ETFs and those pegged to futures contracts. As a result, lawmakers argue that a spot Bitcoin ETF is virtually identical to its futures counterpart, rendering the SEC\u2019s current attitude unsustainable.<\/span><\/p>\n

Consequently, Reps. Mike Flood, Tom Emmer, Ritchie Torres, and Wiley Nickel jointly penned a letter to Gensler. Their argument suggests that a\u00a0 regulated spot Bitcoin ETF would bolster investor protection. The move would simplify and secure access to Bitcoin. \u201cA spot Bitcoin ETP is indistinguishable from a Bitcoin futures ETP,\u201d the lawmakers stressed, urging Gensler to consider the court\u2019s findings.<\/span><\/p>\n

<\/p>\n

Moreover, the SEC\u2019s hesitation seems increasingly inconsistent with significant firms like BlackRock and Fidelity in the queue for <\/span>approvals<\/span><\/a>. Additionally, this week\u2019s upcoming House Financial Services Committee hearing provides an apt platform for these concerns to be directly addressed to Gensler.<\/span><\/p>\n

<\/p>\n

Spot Bitcoin ETFs: The Benefits and Broader Implications<\/h3>\n

Besides the potential legal and consistency issues, introducing a spot Bitcoin ETF can redefine cryptocurrency investments. Such ETFs offer investors a streamlined route to delve into the crypto market. With the simplicity of trading ETFs through brokerage accounts, the wider acceptance and understanding of cryptocurrencies can experience a significant boost.<\/span><\/p>\n

However, the SEC remains silent on the matter. Despite the <\/span>mounting pressure<\/span><\/a>, the regulatory body still needs to signal a green light for a spot Bitcoin ETF.<\/span><\/p>\n

The world watches as the SEC navigates this regulatory maze. With the congressional push and the weight of legal precedent behind the spot bitcoin ETFs, the ball remains firmly in the SEC\u2019s court. As the discussions progress, the significance of cryptocurrencies in the broader financial ecosystem must be considered.<\/span><\/p>\n

<\/p>\n

\n
\n

\u2713 Share:<\/p>\n

<\/a><\/p>\n

\n
\n \"coingape\"
\n<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n
\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top Crypto Marketing Firms \/ Agencies 2023; Here\u2019s Best Picks [Updated]\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n

\n
\n

<\/p>\n

\"\"\"\"<\/div>\n
Top 10 Web3 Games To Explore In 2023; Here List\n <\/div>\n

<\/a><\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p>\n

\n
\n
\n
\n
\n<!–<\/p>\n
<\/div>\n

–><\/p>\n

Kelvin is a distinguished writer specializing in crypto and finance, backed by a Bachelor’s in Actuarial Science. Recognized for incisive analysis and insightful content, he has an adept command of English and excels at thorough research and timely delivery. <\/p>\n<\/p><\/div>\n

\n \"\"\"\" <\/div>\n<\/p><\/div>\n<\/p><\/div>\n
\n

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n

<!– <\/p>\n

\n
\n Crypto Stories<\/span><\/p>\n

View all<\/a>\n <\/div>\n

\n
\n
\n
\n <\/p>\n
\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"\"twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720\"<\/div>\n
Twitter is now worth just 33% of Elon Musk\u2019s purchase price <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"will_cramer_curse_strike_again_720\"\"will_cramer_curse_strike_again_720\"<\/div>\n
Will Cramer Curse Strike Again? <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n

\n
\n
\n <\/p>\n
\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"\"mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720\"<\/div>\n
Mercedes Benz To Release NFT Collection With Fingerprints DAO <\/div>\n

<\/a>\n <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n

–><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

In light of recent court rulings, a bipartisan coalition of lawmakers is urging the U.S. Securities and Exchange Commission (SEC) Chair, Gary Gensler, to hasten the approval of spot Bitcoin exchange-traded funds (ETFs). Court Ruling Challenges SEC Stance Additionally, Grayscale Investments, a player in the crypto industry, achieved a legal milestone last month. The U.S. […]<\/p>\n","protected":false},"author":2,"featured_media":163400,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[173],"tags":[201,248,251,246,257,255,250,252,247,253,249,256,254],"class_list":["post-163399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-others","tag-blockchain","tag-bsc","tag-chainlink","tag-coin","tag-cryptocurrency","tag-gta","tag-looks-rare","tag-oracle","tag-polygon","tag-quickswap","tag-safe-moon","tag-wallet","tag-wordpress"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=163399"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163399\/revisions"}],"predecessor-version":[{"id":163402,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/163399\/revisions\/163402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/163400"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=163399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=163399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=163399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}