SEC Chair Gary Gensler comments on prospects for spot Bitcoin ETF
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said he is not ready to discuss approval of applications for spot Bitcoin (BTC) ETFs. Gensler, speaking on the sidelines of the Healthy Markets Association conference on Nov. 29, said he would not “pre-judge” the matter of Bitcoin spot ETFs. He did however note his concerns about the crypto industry as a whole: “This is a field that is rife with bad actors and rife with fraud and manipulation and money laundering.” Gary Gensler, SEC Chairman Gensler considers the process of application approval to be reliable and time-tested. He also noted that SEC staff have been dealing with similar cases for decades and have the proper level of qualifications. “This is a time tested process that goes back decades. The staff of the SEC, it’s called the Disclosure Review Team, but in that group, they respond and give feedback to potential issuers.” Gary Gensler, SEC Chairman You...