NFT News by Thebittimes.Com

The US Securities and Exchange Commission (SEC) Chairman Gary Gensler has said that the arrival of the recently approved Spot Ethereum ETF will “take some time.” Gensler noted to CNBC Wednesday morning that the agency is still working on various disclosure measures. The ETH ETF approval last week was a surprise to the digital asset market as a whole. The SEC had long resisted the approval of the crypto-based exchange-trade product, despite the success of a Spot Bitcoin ETF following its January approval. Conversely, Gensler discussed the need for patience as the process is still ongoing. Also Read: JPMorgan Predicts ‘Negative’ Market Response to Ethereum ETFs SEC Chair Says Ethereum ETF Could Still Take Time With the midpoint of 2024 fast approaching, crypto-based ETFs have dominated the finance sec tor. Both Bitcoin and Ethereum have received approval for the investment vehicle, as the cryptocurrency market could be set to face a surge in investor interes...

Exploring the conflict between the SEC and major cryptocurrency corporations and the fight for investor protection in digital currency markets. Bitcoin, Coinbase, Binance and more are all fighting for their lives as the United States Securities and Exchange Commission does everything in its power to eradicate the current cryptocurrency system in the United States and replace it with one it deems more “fair” to the American public. Since its start in 2009, cryptocurrency, or digital currency, has taken the world by storm and caught the attention of millions of investors who have an interest in digitizing their assets. At first glance, this seems convenient to many, but as SEC chairman Gary Gensler has been arguing, the system is so deeply flawed that the American public doesn’t even realize the risks it is taking. This argument is not to say that the burden of responsibility is largely on the public and their ability to understand and invest their money wisely, but more so to point ou...

The SEC Chairman has been accused of leading the Commission with his regulation by enforcement tactics, a system that has been called out by both lawmakers and leaders in the cryptocurrency ecosystem. Despite these criticisms, Gensler is unfazed, and maintains that the current SEC urities laws in the US are sufficient to guide the nascent Web3.0 world. advertisement Clarifying the misconception about most crypto assets receiving the tag of securities, Gensler said the definition of securities as given by Congress features 30 different things including stocks and investment contracts. The Investment Contract entails putting funds in a common enterprise with a reasonable expectation of profits derived from the efforts of others. Intermediaries for investment contracts are required to comply with securities laws & register with @SECGov. Instead, many crypto platforms are contending that their investment contracts are something else. Trendi...