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
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