Crypto lobbyists criticized the regulatory decisions of the US Securities body, which is denying the approval of Bitcoin spot ETFs applications.
Bitcoin spot ETF is a stock like a trading asset, or we can say a crypto asset-backed asset fund, which remain under the official support of government financial agencies. From late 2021 to 2022, The United States Securities and Exchange Commission (SEC) approved many Bitcoin futures ETFs applications but never approved any Bitcoin spot ETFs. Every time the SEC agency claims that people may face huge losses because Bitcoin spot ETFs product prices can be manipulated.
On 12 September, Coindesk reported that a Washington, DC-based advocacy group The Chamber of Digital Commerce released a report which stated that the US SEC agency is hurting the US Investors to not to allow Bitcoin spot ETFs investment vehicle, which is available in other countries.
DC-based advocacy group noted that the US securities agency is thinking that US Investors are not ready for such investment & financial products, which is transparent.
“It has determined that the American public cannot yet handle the responsibility of familiar, cost-effective, liquid, transparent, and regulated access to the Bitcoin markets. (…) The SEC continues to force U.S. investors who wish to invest in this transformative asset class into unregulated or foreign alternatives.”
Perianne Boring, the founder of the Digital Chamber of Commerce, commented that it was the first document report on the arbitrary and capricious behavior of the SEC agency. She also said that Congress needed to interfere in this matter.
“SEC’s denials are viewed comprehensively, a pattern emerges that the agency must address or if they can’t address it, Congress should take action.”
A popular spot ETFs strategist claimed that the SEC agency may think to approve Bitcoin spot ETFs applications from mid of 2023 because in the present time there are some proposals to change the securities laws in favor of cryptocurrencies and once it will get approval the SEC may green signal to all Bitcoin spot ETFs products.
Read also: 41% supply of SHIB Token has been burned so far
Digital Chamber of Commerce slams SEC decision on spot Bitcoin ETFs
https://bitcoinik.com/digital-chamber-of-commerce-slams-sec-decision-on-spot-bitcoin-etfs-rejections/feed/
https://bitcoinik.com/digital-chamber-of-commerce-slams-sec-decision-on-spot-bitcoin-etfs-rejections/feed/
Moon Grid trading bot
OKX’s new Moon Grid bot automatically buys low and
sells high within a wide price range using artificial intelligence based on market backtesting.
Quick to set up with smart entry and exit points!
How does it work?
- Select Trade in the main menu, then select Trading bot.
- Select a spot trading pair from the Trading bot menu.
- Select Moon Grid from the listed strategies.
- Enter the amount you want the bot to trade and click Create.
- Your bot will then be live.
- To view and manage your Moon Grid bot, select Bots at the bottom of the trading dashboard.
—————————————————————————————————————————————-
Risk Reminder:
Trading foreign exchange and/or contracts for differences on margin carries a high level of risk and may not be suitable for all investors.
The possibility exists that you could sustain a loss in excess of your deposited funds.
Before deciding to trade the products reviewed by Cryptonews24.eu, you should carefully consider your objectives, financial situation, needs and level of experience.
You should be aware of all the risks associated with trading on margin.
Cryptonews24.eu provides general news and advice that does not consider your objectives, financial situation or needs.
The content of this website must not be construed as personal advice.
Cryptonews24.eu recommends you seek advice from a separate financial advisor.
Nothing on this website should be considered financial advice.
This website is for informational purposes only and you should not rely on anything that is printed or said on this website to make any financial decisions.
