A group of lawmakers from both parties has urged Gary Gensler, the chairman of the U.S. Securities and Exchange Commission (SEC), to approve a spot Bitcoin exchange-traded fund (ETF) immediately. They argue that a regulated spot Bitcoin ETF would provide increased protection for investors and make access to Bitcoin safer and more transparent. The lawmakers point to a recent court ruling in favor of Grayscale Investments LLC, which questioned the SEC’s lack of clarity on regulatory standards and unequal treatment of similar products. The appeal highlights the growing need for consistent and transparent regulatory standards in the crypto industry.
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