✅ Those Who Are Saying That SEC Deleted Announcement, Gary Back Again. This Time to Confirm the Approval !
▶️ SOURCE : https://www.sec.gov/news/statement/gensler-statement-spot-bitcoin-011023
▶️ KEY POINTS :
▪️"SEC Disapproved more than 20 Filings for spot Bitcoin ETPs since 2018"
▪️"After Court Ruling against SEC in Grayscale Case, Circumstances have changed and most sustainable path forward is to approve ETPs"
SO GARY ADMITS THAT They Approved it only after losing battle in court against Grayscale
▪️BAD NEWS : "today’s Commission action is cabined to ETPs holding one non-security commodity, bitcoin. It should in no way signal the Commission’s willingness to approve listing standards for crypto asset securities. Nor does the approval signal anything about the Commission’s views as to the status of other crypto assets under the federal securities laws."
Our Take : Basically He hints they treat BTC ETFs as exception to be approved but not other cryptos.
▪️"Investors today can already buy and sell or otherwise gain exposure to bitcoin at a number of brokerage houses, through mutual funds, on national securities exchanges, through peer-to peer payment apps, on non-compliant crypto trading platforms, and, of course, through the Grayscale Bitcoin Trust. Today’s action will include certain protections for investors"
What He try to hint, saying investors can already trade on non-compliant crypto trading platforms, bcoz it is not allowed in US, then how someone can do
▪️"Bitcoin is primarily a speculative, volatile asset that’s also used for illicit activity including ransomware,[4] money laundering,[5] sanction evasion,[6] and terrorist financing.[7]
While we approved the listing and trading of certain spot bitcoin ETP shares today, we did not approve or endorse bitcoin."
Again BS Rants in the end.
