The American non-profit organization Better Markets, created to bolster public interest in financial markets and the economy, expressed concern about the Commission's approval of the Agam and US exchanges (SEC) spot bitcoin ETF. According to its management, instead of protecting crypto investors, the SEC allowed “mass marketing of obviously useless, volatile and fraudulent financial product among ordinary Americans." On January 11, Better Markets published a press release in which it stated that the law does not support US regulators approving applications for ETFs. She also criticized claims that the SEC was forced to take this step after Grauscale's court victory. Let us recall that in August 2023, the US court ruled that the SEC’s rejection of the application for a spot Bitcoin ETF from Grauscale represented a “subjective and arbitrary” decision. However, Better Markets disagreed with suggestions that the SEC's defeat would mean it would have to approve the ETF. The court in the Grauscale case simply stated that the SEC failed to sufficiently explain its previous refusal. The SEC could and should have rejected applications for ETFs and justified its decision in more detail, pointing out that “up to 77.5% of the total trading volume on unregulated exchanges occurs due to wash trading,” and that as many as 95% of Bitcoin trading also “could be “the result of fictitious trading,” said the non-profit organization. Better Markets also noted that BTC supporters will most likely position this decision as a kind of government support for cryptocurrencies. Paying attention to BTC and cryptocurrencies in general, representatives of the organization state that the main crypto asset remains a “worthless financial product” that is preferred only speculators, gamblers and criminals. Better Markets’ position is that no regulator has ever been able to effectively control the crypto industry. The company also criticized the Chairman of the US Commodity Futures Trading Commission (CFTC) Rostin Benham, who, in their opinion, turned out to be “nothing more than a biased supporter of cryptocurrencies currencies."

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