SEC Sets Deadline For Comments on 9 Bitcoin ETF Applications

Related: Yale’s ‘Warren Buffett’ Places Bets on Crypto Funds

In previously turning back the bitcoin ETF applications, the SEC stated, “Among other things, the Exchange has offered no record evidence to demonstrate that bitcoin futures markets are ‘markets of significant size.’ That failure is critical because, as explained below, the Exchange has failed to establish that other means to prevent fraudulent and manipulative acts and practices will be sufficient, and therefore surveillance-sharing with a regulated market of significant size related to bitcoin is necessary.”

“The regulator had found that the products did not comply with the requirements by the ‘Exchange Act Section 6(b)(5), in particular the requirement that a national securities exchange’s rules be designed to prevent fraudulent and manipulative acts and practices,’” notes Cointelegraph.

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