The US Securities and Exchange Commission (SEC) has indicated a time frame for reviewing proposed changes to laws relating to Bitcoin ETFs.
According to documents published by the SEC on October 4, the commission is currently considering the operation of nine separate ETFs that were proposed by three different market participants.
The new changes to the laws concern a pair of ETFs that ProShares filed with NYSE Arca to launch. Other applications that will be considered are ETF launch proposals from Direxion and Granite Shares.
The regulator said that all previous directions rejecting proposals for rule changes will remain in force pending consideration by the commission. In a separate statement, the SEC provided amendments and clarifications to certain changes proposed by GraniteShares.
As reported in late August, the SEC decided to reconsider its refusal to create nine ETFs just a day after rejecting the applications. According to the regulator, these products do not comply with the requirements of sections 6(b)(5) of the Interchange Act, in particular, they do not have developed rules that would protect their users from fraudulent and manipulative actions.
According to https://cointelegraph.com
You May Also Like
The Governor of California signed a decree legalizing cryptocurrencies and blockchain
The Governor of California signed a decree creating a regulatory framework for cryptocurrency companies, as well as introducing blockchain and digital assets into the work of government departments.
Cryptocurrency could solve Zimbabwe's cash shortage problem
According to Mthuli Ncube, Zimbabwe's new finance minister, cryptocurrency can help the South African country solve the cash crunch crisis that has been ongoing for the past two years.
