Is Gensler surrendering to the crypto circle?

Chane999

"In recent interviews, SEC Chairman Gensler has shown a significant shift in his stance towards BTC spot ETFs. Gary Gensler stated that the staff is ""considering"" multiple BTC spot ETFs and emphasized that supporters of Bitcoin ETFs must ensure their products are registered with the U.S. Securities and Exchange Commission (SEC) and go through a filing process similar to an initial public offering.

A decision by a U.S. federal court marks a change in the SEC's tough stance on cryptocurrency ETFs. At the end of August, Grayscale won a significant victory in its dispute with the SEC over a Bitcoin spot ETF. According to court documents, a three-judge panel in Washington overturned the SEC's decision to reject Grayscale's proposal, describing it as ""arbitrary and capricious"" because the SEC failed to explain its differing treatment of similar products.

It is reported that the U.S. Court of Appeals for the D.C. Circuit will make a final decision on the case this Friday or next Monday. It is widely expected within the industry that the SEC will approve new ETFs by March or April next year, but the exact timing remains uncertain. This measure indicates that the SEC may have a more open attitude toward cryptocurrency ETFs.

Not only the courts but also Congress has shown an unfriendly attitude towards the SEC in recent times. On June 12, U.S. Congressman Warren Davidson introduced the ""SEC Purification Act"" to the House of Representatives. One of the main provisions of the bill is to restructure the U.S. SEC and dismiss SEC Chairman Gary Gensler.

This proposal has received support from another Congressman, Tom Emmer. ""U.S. investors and the industry should be subject to clear and consistent oversight, not a game of musical chairs. The 'SEC Purification Act' will bring commonsense reforms to ensure the primary mission of the U.S. SEC is to protect the investors they are responsible for, rather than catering to the whims of their reckless chairman,"" said Tom Emmer in a press release."

Sona59

The cryptocurrency market is still very impressive.

Kahn332

Whether there will be a surrender is hard to say.

Jatin255

Let's wait and see; speculating on this doesn't make much sense.