Home › Forums › U.S. House Legislators Urge SEC’s Gensler for Swift Approval of Spot Bitcoin ETF › A Bipartisan Call for SEC Approval of Bitcoin ETFs
Members of the House Financial Services Committee, representing both parties, penned a letter to SEC Chair Gary Gensler urging swift action on ETF approvals. Notably, Rep. Tom Emmer, a House leadership figure, joined the call for SEC action and will discuss the matter in an upcoming hearing. The industry awaits the SEC’s response following a recent court battle over the rejection of Grayscale’s spot bitcoin ETF application. Lawmakers stress the importance of heeding the courts and allowing regulatory approval for bitcoin exchange-traded funds.
The bipartisan letter from members of the House Financial Services Committee to SEC Chair Gary Gensler regarding the approval of Bitcoin exchange-traded funds (ETFs) highlights the increasing interest and urgency surrounding the regulation of cryptocurrency-based financial products. The fact that both Democratic and Republican representatives are joining forces on this issue suggests a broad consensus on the need for regulatory clarity in the cryptocurrency space.
The involvement of Representative Tom Emmer, a prominent figure in House leadership, signals that this issue is gaining prominence at the highest levels of government. His intention to discuss this matter in an upcoming hearing underscores the importance of addressing the regulatory hurdles hindering the approval of Bitcoin ETFs.
The recent legal battle over Grayscale’s Bitcoin ETF application rejection adds to the sense of urgency. Lawmakers’ emphasis on respecting court decisions underscores the importance of establishing a consistent and transparent regulatory framework for cryptocurrency-related products.
SEC has been delaying Spot Bitcoin ETF application approval for a long time. Last year, Grayscale’s CEO threatened to sue the regulators for being unfair. This year, too, the company filed a complaint to which the District of Columbia Court of Appeals in Washington ruled in favor of wrongly rejecting it without any reason. With the bipartisan call by House Financial Services Committee to Gary, maybe we can hope to see new changes?