In a recent interview with CNBC, Gary Gensler, the Chair of the US Securities and Exchange Commission (SEC), provided insights into the status of spot Bitcoin ETF applications and highlighted concerns regarding alleged noncompliance and fraud within the crypto industry.

Previous Denials Of Bitcoin ETF Reevaluated?

During the Interview, Gensler acknowledged that the SEC has received between eight and twelve filings for spot Bitcoin ETFs, with an upcoming approval window anticipated in early January. 

Gensler emphasized that as the Chair of the commission, he refrains from prejudging any Bitcoin ETF application, and the process is currently underway. 

Gensler also mentioned that previous denials of such applications have been reevaluated due to court rulings in the District of Columbia, prompting the SEC to take a fresh look at the matter. Gensler further stated on the matter: 

I’m not to prejudge anything. So, that’s going through the process right now. And as you might know, we had in the past denied a number of these applications, but the courts here in the District of Columbia weighed in on that. And so we’re taking a new look at this based upon those court rulings. 

Concerns Over Fraud In The Crypto Industry

Discussing the crypto industry at large, Gensler expressed concerns about alleged noncompliance with securities laws and other regulations, including anti-money laundering (AML) measures. 

Despite a “new look” at the applications of Bitcoin ETFs, the SEC chair highlighte

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Author: Ronaldo Marquez

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