The Chairman of the Securities and Exchange Commission (SEC), Gary Gensler, stated on Thursday (14th) that the SEC’s reconsideration of the Bitcoin spot ETF application takes into account recent court rulings.
According to a previous report by Zombit, Grayscale has been in a battle with the SEC in order to transform its Bitcoin trust fund, GBTC, into a spot ETF. It was not until a court ruled in August that the SEC must reexamine Grayscale’s Bitcoin spot ETF application that progress was made. The SEC is currently considering dozens of applications from large asset management companies such as BlackRock and Fidelity.
In an interview with CNBC, Gensler said, “All of the SEC’s actions are in accordance with the laws passed by Congress and the court’s interpretation of these laws.” However, he also reiterated his view that the cryptocurrency industry has many behaviors that do not comply with existing securities laws.
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