According to Odaily, Gary Gensler, the Chairman of the U.S. Securities and Exchange Commission (SEC), has announced in an interview that a second batch of Bitcoin spot Exchange-Traded Funds (ETFs) is set to be approved. This follows the launch of the first batch of Bitcoin spot ETFs in January of this year. The upcoming approval is expected to take place this summer.
However, Gensler expressed his ongoing concerns about the numerous existing cryptocurrencies. He believes that the public has not received adequate disclosure about these projects, including information about insiders and potential conflicts of interest. Despite these concerns, Gensler stated that the SEC is still prepared to cooperate with those who wish to register.
Gensler reiterated his view that the cryptocurrency industry is fraught with dangers for investors. He described the sector as one riddled with scams and fraud, and suggested that this is more than just a coincidence. The SEC Chairman's comments highlight the regulatory challenges facing the rapidly evolving cryptocurrency market.