Rising Concerns Over Gary Gensler’s Potential Blockage of Spot Bitcoin ETF
The U.S. Securities and Exchange Commission (SEC) has raised concerns in the crypto market with additional comments on pending spot Bitcoin ETF applications. The comments have sparked worries that SEC Chair Gary Gensler may find a way to block approvals, causing delays.
Possible Tools at SEC’s Disposal
Perianne Boring, President and founder of the Chamber of Digital Commerce, expresses concern over Gensler’s potential actions, stating that he has various tools to prevent spot Bitcoin ETFs from entering the market. She hopes for a successful launch this week but acknowledges the possibility of further delays.
Additional Comments Not Necessarily Delaying Approval
Bloomberg ETF analyst James Seyffart disagrees with the notion that the issuance of additional comments by the SEC is solely aimed at delaying ETF approval. He sees it as a cause for concern but not necessarily an indication of a deliberate delay.
Potential for a 5-Member SEC Commission Delay
Experts warn that a 5-member SEC Commission, including Gensler, could potentially delay the approval of spot Bitcoin ETFs. Each commissioner has the right to request a review and full commission vote, even if a matter is initially approved via delegated authority.
Criticism from John Deaton
John Deaton, an attorney representing XRP holders, criticizes Gensler’s biased views on crypto assets. Deaton suggests that the crypto community should carefully consider Gensler’s statements due to his position as a transient regulator.
Deaton also highlights Gensler’s meeting with Sam Bankman-Fried while refusing a private meeting with Coinbase CEO Brian Armstrong and CLO Paul Grewal.
Hot Take: Concerns Surrounding Gary Gensler’s Potential Blockage of Spot Bitcoin ETF
The crypto market is anxiously awaiting the SEC’s decision on spot Bitcoin ETFs, with concerns growing over the potential blockage by SEC Chair Gary Gensler. The recent additional comments by the SEC have raised worries about further delays and potential obstacles for approval. While some believe these comments may not necessarily indicate a deliberate delay, others caution that a 5-member SEC Commission could potentially prolong the process. As the deadline for the SEC’s decision approaches, the crypto community remains on edge, closely watching Gensler’s actions and statements regarding crypto assets.
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