Wednesday, April 28, 2021

Is This a Signal New Bitcoin Regulation is Coming?

The Securities and Exchange Commission announced today that it is delaying its decision on approving the VanEck Bitcoin ETF until June.

 The SEC typically takes 45 days from when an application is filed to render a decision on whether such a security should be allowed to trade. The 45 day window for the VanEck Bitcoin ETF ends on May 3, but the SEC is extending the deadline.

“The Commission finds that it is appropriate to designate a longer period within which to take action on the proposed rule change so that it has sufficient time to consider the proposed rule change and the comments received,” J. Matthew DeLesDernier, Assistant Secretary at the SEC, said in a filing.

The delay may indicate that the government is about to slap more regulations on bitcoin and other cryptocurrencies.


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