US Congress orders SEC to approve all Bitcoin spot ETF applications

On Sep 27, 2023

Republican & Democratic lawmakers sent a letter to the SEC chairman to approve Bitcoin spot ETF applications to ensure the safety of the Bitcoin investors.

In the US currently, some Bitcoin futures ETF products are running, providing investment in Bitcoin on behalf of the trade price of Bitcoin but the fund managers want to bring Bitcoin spot ETF products so that people can invest in Bitcoin directly more safely. So far, the country’s top financial regulator the Securities and Exchange Commission (SEC) rejected every Bitcoin spot ETF application. At present, nearly 20+ Bitcoin spot ETF products are in queue to get approval from the SEC agency.

On 26 Sep 2023, A group of Republican and Democratic lawmakers (Reps. Mike Flood, R-Neb., Tom Emmer, R-Minn., Ritchie Torres, D-N.Y. and Wiley Nickel, D-N.C.) sent a letter to the US SEC chairman Gary Gensler.

Through the letter, lawmakers urged Gensler to approve all the Bitcoin spot ETF applications which are waiting to get approval, so that people can invest in Bitcoin in more safe & transparent ways.

Letter read:

“Congress must ensure the SEC approves investment products that meet the requirements set out by Congress,” they said. “To that end, we urge you to approve the listing of spot-bitcoin ETPs immediately.”

BREAKING: U.S. HOUSE LAWMAKERS FROM BOTH PARTIES SEND LETTER TO GARY GENSLER DEMANDING THAT THE SEC STOP DISCRIMINATING AGAINST SPOT $BTC ETPS AND APPROVE THEIR LISTINGS IMMEDIATELY 🚨🚨🚨🚨#btcnews #btc #CRYPTONEWS #cryptonewstoday #Trending #TrendingNow pic.twitter.com/xUjuxuh9nd
— ©️⭕️hi🅱️aM🅰️n.eth 😈🟥🔥 (@RedHornMaster) September 26, 2023

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