SEC Boss Comments on Refusal to Approve Spot Bitcoin ETF

.GaryGensler has signaled that SECGov is nowhere near to approving a Bitcoin ETF

has taken to Twitter to share a letter from U.S. Securities and Exchange Commission Chairman Gary Gensler, in which the latter explains the rationale behind the agency’s unwillingness to approve a spot-based Bitcoin ETF.

When reviewing Bitcoin spot ETPS, the Commission must apply all the standards of the Exchange Act, which it has followed in connection with its orders considering previous proposals to list Bitcoin spot ETPs. We received a response from SEC Chair Gensler to our 11/3/21 letter regarding BTC spot ETFs. This issue remains a priority for us and we will continue to oversee the SEC in its mission to maintain fair and orderly markets and facilitate capital formation.

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