The U.S. SEC (Securities and Exchange Commission) Chair Gary Gensler wished ‘happy anniversary’ to Bitcoin’s white paper. Additionally, Gensler made a fun remark about Satoshi Nakamoto (Bitcoin creator) dressing up for Halloween.
Plus, Gensler also issued a strict warning to cryptocurrency firms, emphasizing the exact importance of actually complying with the laws of securities.
SEC Chair Gary Gensler’s Message On The Bitcoin White Paper’s 15th Anniversary:
Gary Gensler took to X on Tuesday to wish Bitcoin’s white paper on its anniversary. He wrote, “Happy 15th anniversary to Satoshi’s famous white paper that started crypto.”
He also tried making a playful remark about Satoshi Nakamoto’s costume for Halloween, asking whether anyone would be able to say if Satoshi Nakamoto dressed up as himself for Halloween. Gensler finished his post with a message to match the trick-or-treating theme for cryptocurrency firms.
He warned, “Any crypto companies that are tricking investors should start treating them to compliance with the securities laws.”
Gensler’s message was able to garner multiple comments on social media platforms, with multiple focusing on when he has plans to actually approve a spot bitcoin ETF (exchange-traded fund). Till date, the SEC watchdog hasn’t approved any spot bitcoin exchange-traded fund, inspite of granting approval for multiple ETFs depending on futures contracts for bitcoin.
Gensler repeatedly said that he does view all cryptocurrency tokens as securities, except for Bitcoin.
Gensler’s Comments Earlier This Week:
The chairman of the SEC said earlier this week that the main regulator is actually considering 8 to 10 spot bitcoin exchange-traded fund applications. Depending on public records, twelve spot bitcoin exchange-traded funds have already been filed with the SEC. This includes the Grayscale Investments’ application to transform its GBTC (bitcoin trust) into a spot bitcoin ETF.
The other applicants are Invesco, Vaneck, Fidelity, Wisdomtree, Bitwise, Blackrock, and Cathie Wood’s ARK Investment Management. 8 applications come with the latest probable review dates in the 1st quarter of 2024, and 3 have dates in the 2nd quarter.
Some analysts, including the ones at JPMorgan, are currently expecting the SEC to actually approve several spot bitcoin exchange-traded funds at once. Only recently, Bitcoin prices surged on speculation that the largest asset manager in the world, Blackrock, is very close to releasing its spot bitcoin ETF.
Moreover, only last week, Bernstein Research said that a spot bitcoin exchange-traded fun appears to be ‘a done deal’ in January.
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