What kind of political pressure is it going to take to get a spot Bitcoin ETF approved?
Perianne Boring, founder and CEO of blockchain advocacy group Chamber of Digital Commerce, placed the lack of approval of a Bitcoin exchange-traded fund in the United States squarely on Securities and Exchange Commission chair Gary Gensler, suggesting politics played more of a role than economics.
Speaking to Cointelegraph at the Texas Blockchain Summit in Austin on Nov. 18, Boring said the events surrounding FTX’s collapse may have “emboldened the regulation by enforcement approach” from the U.S. Securities and Exchange Commission and Treasury, with Republican lawmakers likely to focus on oversight using their House majority in the next Congress.
“In the House side, we’re going to see increased oversight efforts, but I don’t think crypto is actually going to be the priority,” said Boring. “Oversight hearings [...] they’ll have subpoena authority, they have the authority to administer oaths, so they could bring in different people within the agencies to scrutinize their approach to digital assets.”
The Chamber CEO suggested the seeming lack of urgency from Congress could delay the passage of crypto-related legislation, while a Bitcoin exchange-traded fund, or ETF, was in the SEC's hands: “It’s been a decade since the first spot Bitcoin ETF was put forward [...] We still don’t have one, but we have a futures Bitcoin ETF. So, how does this make sense? It’s all about political power, so it really comes down to chairman Gensler.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
This short ETF is soaring as it benefits from crypto tumult after FTX collapseA recently launched exchange-traded fund benefits from turmoil in the cryptocurrency industry, soaring more than 20% since its inception in September.
Read more »
Biden tells boy to ‘go steal a pumpkin’ during ‘boring’ speechPresident Biden on Monday told a boy that he could “go steal a pumpkin” to avoid his “boring” speech about Thanksgiving to Marine Corps members in North Carolina.
Read more »
Perspective | The anti-Blackness of ‘the Black kids teased me for talking White’Perspective: Anti-Blackness does not discriminate. Black people can be anti-Black too. When you’re falsely told that we are destined, through our inherent deficits, to be a permanent underclass — of course you’ll be tempted to rid yourself of it.
Read more »
Elon Musk calls New York Times 'boring': 'Far left brainwashing at this point'Elon Musk called out the New York Times on Sunday in a tweet and said that it was 'tragic' how far they had fallen, adding that they are just 'far left brainwashing.'
Read more »
Wednesday is frighteningly dullEven Jenna Ortega can't save Netflix's bafflingly boring Addams Family spinoff
Read more »
Roku Indoor Smart Plug SE review: A boring but necessary smart home deviceThe Roku Indoor Smart Plug SE offers a scaled-back design and solid feature-set at a very low price -- but you'll have to invest in Roku.
Read more »