Regulation News

Senior ETF analyst sees ‘first ray of light’ on potential spot Bitcoin ETF approval


The current Chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, said that Washington’s financial watchdogs should actively supervise cryptocurrency trading platforms.

According to Bloomberg’s senior ETF analyst Eric Balchunas, Gensler’s comments are the “first ray of light” he has seen regarding the approval of a spot Bitcoin exchange-traded fund (ETF).

The analyst noted that a spot Bitcoin ETF could be on the cards but only if Gary Gensler can eliminate a significant obstacle that stands in the way of approving a spot ETF, which is “un-wild west the crypto exchanges.”

However, Balchunas made it clear that it is still worth keeping an eye on the issue, even though he is still skeptical of the matter at hand of clear crypto regulation and believes that it will take a long time before it comes to fruition.

SEC to target crypto platforms in 2022
Gary Gensler believes that the SEC should scrutinize cryptocurrency trading platforms while keeping a close eye on their operations. He expressed optimism that further monitoring will take place this year to provide investors with greater security when dealing with Bitcoin and other cryptocurrencies.

The 64-year-old has remarked on several occasions that stricter investor laws are needed in the crypto market. Notably, last year, he expressed his appreciation for the space but said that this would not prevent him from advocating for more stringent regulations in the marketplace.

Gensler revealed he’s instructed his staff to bring cryptocurrency trading platforms within the “investor protection remit,” and stressed that he’s in frequent contact with regulators at other agencies, including the Commodities Futures Trading Commission, the Comptroller of the Currency, the Treasury, and the Federal Reserve, to ensure that investors are protected.

The American highlighted “real vulnerabilities” with cryptocurrency exchanges, describing Bitcoin as a “highly speculative” asset class and emphasizing that the platforms may be registered in certain jurisdictions offering a small amount of consumer protection.CRYPTOCASTER® - DECENTRALIZED FREEDOM!

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt

Support CryptoCaster with any amount of Bitcoin by copying and pasting our Unstoppable Domain; villagewest.crypto in your sending wallet or crypto coin exchange.

Your contribution support will help in our growth, coverage, and global presence. CryptoCaster is a decentralized publisher “Covering a Global Evolution Re-defining Mediums Of Exchange”. We will continue to upgrade and create impactful sections to our lineup.
Any amount, as often as you can contribute will be greatly appreciated.
Every contribution, however big or small, is so valuable for our future. Thank you for your consideration and support!
Member of Global Meta Media Consortium℠

You may also like