The question of whether the Securities and Exchange Commission (SEC) should be forced to permit spot-based bitcoin exchange-traded-funds (ETFs) is now inching through the courts, but industry lobbyists are making another public push to declare the regulator is wrong in opposing the product.
The Digital Chamber of Commerce, a Washington, D.C.-based advocacy group, commissioned a report set for release Monday that will accuse the SEC of harming U.S. investors by depriving them of a type of trading vehicle already available in other countries.
“It has determined that the American public cannot yet handle the responsibility of familiar, cost-effective, liquid, transparent and regulated access to the bitcoin markets,” according to the report. “The SEC continues to force U.S. investors who wish to invest in this transformative asset class into unregulated or foreign alternatives.”
Source: A Bitcoin ETF Is Long Past Due, Crypto Lobbyists Say in New Report Taking Aim at SEC
