{"id":183497,"date":"2023-10-30T11:02:49","date_gmt":"2023-10-30T05:32:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/?p=183497"},"modified":"2023-10-30T11:02:49","modified_gmt":"2023-10-30T05:32:49","slug":"gary-genslers-bitcoin-etf-position-is-inconsistent-says-gary-gensler-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/gary-genslers-bitcoin-etf-position-is-inconsistent-says-gary-gensler-crypto-news\/","title":{"rendered":"Gary Gensler\u2019s Bitcoin ETF position is \u2018inconsistent\u2019\u2026 says Gary Gensler &#8211; Crypto News"},"content":{"rendered":"<div data-v-8081b7b6=\"\">\n<p>Gary Gensler once criticized the United States securities regulator for its \u201cinconsistent\u201d approach to spot Bitcoin (<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/bitcoin-price\">BTC<\/a>) products, according to a resurfaced video of Gensler from 2019. <\/p>\n<p>The <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.youtube.com\/watch?v=dLRL1bEpI0c\">video<\/a> clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a fireside chat with Securities and Exchange Commission (SEC) commissioner Hester Peirce.<\/p>\n<p>\u201cBitcoin futures, and I think Ethereum futures and so forth, will exist and Bitcoin ETFs have not and that feels a little inconsistent to me [&#8230;]It feels a little inconsistent,\u201d Gensler said.<\/p>\n<p>\u201cEven though the laws aren\u2019t exactly the same, they\u2019re quite similar,\u201d he added.<\/p>\n<p><iframe loading=\"lazy\" title=\"MIT Bitcoin Expo 2019 - Taming the Wild West: Effectively Regulating the Blockchain Space\" width=\"740\" height=\"416\" src=\"https:\/\/www.youtube.com\/embed\/dLRL1bEpI0c?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p>Meanwhile, on X (Twitter), the crypto community couldn\u2019t help but highlight the contrast with Gensler\u2019s views toward spot Bitcoin ETFs today.<\/p>\n<p>\u200b\u200b\u200b\u200b\u201d\u200b\u200bGary Gensler says Gary Gensler is wrong,\u201d market analyst Zack Voell posted. \u201cWe missed out on chill and normal Gensler,\u201d another X user <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TheFlowHorse\/status\/1718708337745834486\">remarked<\/a>.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Gary Gensler says Gary Gensler is wrong. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/sHGzHcUyIC\">pic.twitter.com\/sHGzHcUyIC<\/a><\/p>\n<p>\u2014 Zack Voell (@zackvoell) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/zackvoell\/status\/1718387461263360032?ref_src=twsrc%5Etfw\">October 28, 2023<\/a><\/p><\/blockquote>\n<p>To date, the SEC has only approved Bitcoin and Ethereum futures ETFs.<\/p>\n<p><strong><em>Related: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/ripple-ceo-criticizes-former-sec-chair-jay-clayton-comments\"><strong><em>Ripple CEO criticizes former SEC Chair Jay Clayton\u2019s comments<\/em><\/strong><\/a><\/p>\n<p>From <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/us-sec-to-review-rejection-of-nine-bitcoin-etf-applications\">as far back as 2017<\/a> the SEC has rejected spot Bitcoin ETF applications, a tradition carried on under Gensler who has denied, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/sec-delays-decisions-on-crypto-et-fs-law-decoded-sept-25-oct-2\">delayed or pushed back<\/a> recent spot Bitcoin ETF applications claiming the funds don\u2019t have protections for market manipulation.<\/p>\n<p>Gensler\u2019s SEC was sued by asset manager Grayscale for rejecting its bid to convert its existing Bitcoin trust into a spot ETF.<\/p>\n<p>A <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/court-mandate-grayscale-sec-spot-bitcoin-etf\">court ruled<\/a> the SEC was \u201carbitrary and capricious\u201d to reject the application. The SEC <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/news\/sec-wont-appeal-court-decision-on-grayscale-bitcoin-etf\">did not appeal<\/a> the decision.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/cointelegraph.com\/magazine\/crypto-regulation-sec-chair-gary-gensler-final-say\/\"><strong><em>Crypto regulation \u2014 Does SEC Chair Gary Gensler have the final say?<\/em><\/strong><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Gary Gensler once criticized the United States securities regulator for its \u201cinconsistent\u201d approach to spot Bitcoin (BTC) products, according to a resurfaced video of Gensler from 2019. The video clip, which has recently made the rounds again on social media, shows the pre-SEC Gensler discussing blockchain regulation at the 2019 MIT Bitcoin Expo in a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":183498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[235,203,210,234,231,232,237,238,236,233],"class_list":["post-183497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blockchain","tag-bitcoin","tag-crypto-currency","tag-elon-musk","tag-ethereum","tag-hyperledger","tag-ibm","tag-mining","tag-nodes","tag-spacex","tag-tesla"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183497","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=183497"}],"version-history":[{"count":2,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183497\/revisions"}],"predecessor-version":[{"id":183500,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/183497\/revisions\/183500"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/183498"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=183497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=183497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=183497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}