SEC to Review Decision on Bitcoin ETFs
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Four SEC commissioners said this week that they will be reviewing the decision of the agency’s staff to reject 9 Bitcoin exchange-traded funds based on concerns over fraud and manipulation.
While SEC staff have been given the authority to make a decision on such applications, the commissioners and the SEC chairman still have the power to review the decision if they desire.
The commissioners had previously voted to reject another bitcoin ETF, with Republican commissioner Hester Peirce placing a dissenting vote on the basis that rejecting such securities may stifle innovation.
Source: Reuters