Congress is Challenging the SEC’s Stance on Bitcoin

A group of U.S. Congress members sent a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler on Tuesday, urging the agency to “approve the listing of spot-bitcoin ETPs immediately.”

The letter was signed by Representatives Mike Flood, Tom Emmer, Ritchie Torres, and Wiley Nickel. The lawmakers argued that a regulated spot bitcoin exchange-traded fund (ETF) would “increase investor protection” by providing safer and more transparent access to bitcoin investments.

“Congress has a duty to ensure the SEC approves investment products that meet the requirements set out by Congress,” the letter stated.

Last month, the U.S. Court of Appeals for the District of Columbia Circuit rejected the SEC’s argument that bitcoin markets are “uniquely resistant to manipulation” and not yet mature enough for ETF approval. The court ruled that this claim did not justify the SEC’s decision to deny Grayscale’s proposed bitcoin ETF.

Citing this, the Congress members wrote, “There is no reason to continue to deny such applications under inconsistent and discriminatory standards.” They argued that the SEC’s stance is “untenable moving forward.”

The SEC has repeatedly blocked proposals for spot bitcoin ETFs, despite applications from major financial firms including Fidelity, BlackRock, Bitwise, VanEck, Galaxy, Invesco, and WisdomTree. The agency has only approved bitcoin futures ETFs so far, drawing criticism over inconsistent standards.

The lawmakers told Chair Gensler, “A spot bitcoin ETP is indistinguishable from a bitcoin futures ETP. Thus, the SEC’s current posture is untenable moving forward.” They pressed the SEC to quickly approve a spot Bitcoin fund.


Originally published on CryptoBriefing.com

Get Access To Marc Chaikin's "Power Gauge Report"

Enter your email address to access all the details.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

The AI Stocks Every Investor Should Have On Their Radar

Enter your email address to access all the details.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Write This Stock Ticker Down Right Now

Enter your email and phone number below to see the stock name and ticker on the next page.



By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Write This Stock Ticker Down Right Now

Enter your email below to see the stock name and ticker on the next page.



By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Write This Stock Ticker Down Right Now

Enter your email below to see the stock name and ticker on the next page.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Write This Stock Ticker Down Right Now

Enter your email address to see the name and ticker on the next page.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

How to Collect "Amazon Royalty" Payouts Before the Deadline

Thanks to a little-known IRS loophole, regular Americans can collect up to $28,544 (or more) in payouts from what is called “Amazon’s secret royalty program”…
Enter your email address to access all the details.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Elon Musk's "Project Omega"

It could soon mint new millionaires, while plunging millions of unprepared Americans into poverty. Get the stocks at the center of it all.
Enter your email address to receive the names and ticker symbols.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

The #1 Trade For 2023

Elon Musk is set to reveal his secret “Project X” that could revolutionize a $23 Trillion industry, and potentially be 1,000x bigger than EV’s. 
This Backdoor play could hand early investors a windfall of gains.
Enter your email address to receive this company’s name and ticker symbol for free.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Every Investor Should Have This $3 AI Stock On Their Radar

Enter your email address to get access to all the details.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Project An-E

Breakthrough A.I. Just Predicted What the Stock Prices of Tesla, Nvidia, and Apple Will Be 30 Days from Now…
Enter your email address for immediate access.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

Elon Musk's "Project Omega"

It could soon mint new millionaires, while plunging millions of unprepared Americans into poverty. Get the stocks at the center of it all.
Enter your email address to receive the names and ticker symbols.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)

#1 A.I. Stock Currently Trading For $3

Gain immediate access to this revolutionary $3 A.I. stock that is set to disrupt a $15 Trillion Market soar 75X.
Enter your email address to receive the name and ticker symbol for free.


By submitting your email address, you give Adaptable Investor permission to deliver the report or research you’re requesting to your email inbox. As a bonus, you will also get a free subscription to one of our carefully selected marketing partners. To learn more about our partners, click here. You can unsubscribe at any time. (Privacy Policy)