In a Sept. 26 letter to Gensler, U.S. Representatives Mike Flood, Wiley Nickel, Tom Emmer and Ritchie Torres claimed the SEC was “discriminat[ing] against spot bitcoin exchange traded products,” citing the legal precedent set by Grayscale Investments in winning a review of its own ETF offering. The four lawmakers told Gensler there was “no reason to continue to deny” spot crypto ETF applications following the Grayscale court decision, which ruled the SEC’s reasoning was “arbitrary and capricious” in having already approved investment vehicles tied to Bitcoin futures.
Continue Reading on Coin Telegraph
Source: Cryptocurrency - investing.com
