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Patrick McHenry Criticized SEC Chair Gary Gensler US House FSC Republican Chairman Patrick McHenry earlier said he will closely watch the US SEC’s response to spot Bitcoin ETF filing by financial services giant BlackRock. advertisement Patrick McHenry said if the reports of the US SEC are true, then Gary Gensler has a lot to explain regarding the action. He urged the US SEC to look into a spot Bitcoin ETF, claiming that it will provide investors with a regulated product. In addition, he said the only reason behind rejecting it could be Gary Gensler wanting to kill crypto innovation in the US. However, the US SEC only informed Nasdaq and CBOE that they need to refile applications with respect to the “surveillance-sharing agreements” and spot Bitcoin exchange that would be used by BlackRock, Fidelity, and other asset managers. Recommended Articles ...

Also Read: Hinman Emails Depicts SEC Fovoured Ethereum Over Other Cryptos advertisement SEC Seeks 4 Additional Months To Reply As per the court filing, the U.S. SEC stated that it has not decided what action needed to take on the rulemaking petition. It added that the order refers to enforcement actions and statements by the SEC Chair, however, it does not demonstrate a decision to reject the exchange’s rulemaking petition. The commission has asked for additional 120 days to reply to the crypto clarity request. Paul Grewal, Chief Legal Officer of Coinbase mentioned that the U.S. SEC repeated the fallacy that they haven’t decided to take any action to serve new crypto rules. The commission has completely refused to commit to any clear deadline despite facing a court’s explicit order. It is important to note that the commission has entirely ignored the statements made by its Chair that eventually confirm that they have no intention to issu...