Congressman Criticizes SEC for Rejecting ‘Fidelity’ Bitcoin ETF


0

[ad_1]

Tom Emer, Representative of the State of Minnesota in the US Congress, criticized the US Securities and Exchange Commission (SEC) for dropping and rejecting Fidelity’s Bitcoin ETF offer that was originally made last March.

Emer, known as one of the friendliest crypto voices in the US Congress, called the decision baseless.

The SEC again cited concerns about fraud prevention and investor protection as the reason behind the latest rejection.

Last month, Fidelity launched the Canadian Spot Bitcoin ETF.

The ETF is traded on the Toronto Stock Exchange.

Canada became the first country in the world to approve a Bitcoin ETF in early 2021.

Repeated rejection:

In November, Representative Emmer and Democrat Darren Soto sent a letter to the chair of the SEC, presenting a compelling case for approval of a Bitcoin ETF.

While the Securities and Exchange Commission (SEC) approved the first ETF based on bitcoin futures in October 2021, the reporter argues that spot ETFs are more efficient.

Advertisements

A week ago, the SEC regulator also rejected a spot bitcoin ETF offer made by SkyBridge Capital and First Trust.

The bid by Valkyrie and Cryptoin was also rejected by the SEC in late December.

During the same month, the SEC denied the WisdomTree application.

The authority is widely expected to reject an offer made by Stone Ridge’s subsidiary NYDIG in the coming days.

Read also:

Is the founder of Linux the founder of Bitcoin?

Turkey’s president orders research into blockchain and cryptocurrency

[ad_2]

Advertisements


Like it? Share with your friends!

0

What's Your Reaction?

hate hate
0
hate
confused confused
0
confused
fail fail
0
fail
fun fun
0
fun
geeky geeky
0
geeky
love love
0
love
lol lol
0
lol
omg omg
0
omg
win win
0
win
NP

0 Comments

Your email address will not be published.