'The possibility of a surveillance-sharing agreement between a listing exchange and a spot bitcoin trading venue is not a new idea,' lawyers for the firm wrote in a comment letter to the SEC on the new wave of ETF applications.
"The possibility of a surveillance-sharing agreement between a listing exchange and a spot bitcoin trading venue is not a new idea," Grayscale lawyer Joseph Hall wrote in the letter, pointing out that Coinbase is not registered with markets regulators as either a national securities exchange, broker-dealer or futures exchange.
The lawyer argued that the SEC is already in a position to approve a spot fund, if it wanted to, using the standard it's already used to approve bitcoin futures ETFs. He said that any move to approve only the recent wave of applications would"reflect a positive but sudden and significant change in the Commission’s application of the relevant statutory standard, and as such would improperly grant an unfairly discriminatory and prejudicial first-mover advantage to these proposals.
Hall added that any approval, if one comes, should include all previous ones that have been disapproved. He said the company supports a regulatory approval that would facilitate the approval of all spot bitcoin ETF proposals.
Coincidentally, SEC Chair Gary Gensler once again expressed skepticism about crypto markets when asked about the pending applications during a
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Grayscale Urges Equal Treatment for All Spot Bitcoin ETF's in Letter to SECGrayscale Investments urged the Securities and Exchange Commission to treat bitcoin ETF applications fairly if it chooses to approve one or more of the latest string of applications. LedesmaLyllah reports
Les mer »
First Mover Asia: Bitcoin Awaits Its Spot ETF in Absence of a Macro Catalyst: Crypto CEOBitcoin has been immune to recent, macroeconomic and regulatory events. But 'one significant influencing factor is the application of traditional institutions for a Bitcoin ETF,' says the CEO of custodian Cobo_Global. TheSamReynolds writes
Les mer »
Gensler mentions fraud and manipulation when asked about bitcoin ETFsThe SEC chair declined to give a direct opinion on pending bitcoin ETF applications but repeated concerns about fraud and manipulation.
Les mer »
SEC appeal could amplify Ripple win, says Ripple Labs legal chiefRipple’s chief legal officer s_alderoty predicts if the SEC appeals the ruling from the regulator's case against Ripple, it could see the courts amplify Ripple Labs' victory to a greater extent.
Les mer »
Brandon Charnas not cooperating with 'possible insider trading' probe: SECBrandon Charnas, the husband of Something Navy's Arielle Charnas, isn't cooperating with an investigation into 'possible insider trading': SEC
Les mer »
Ripple Chief Legal Officer Says Company Ready for Likely SEC AppealRipple top lawyer says no backing down from potential SEC appeal XRPArmy XRPHolders XRPCommunity XRP $XRP
Les mer »