Bloomberg: the first bitcoin ETFs to be approved in 2023 in the USA
This will happen after cryptocurrency exchanges begin to be regulated by the US authorities
25.03.2022 - 07:20
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What’s new? The US Securities and Exchange Commission (SEC) could allow spot bitcoin ETFs to be listed on the stock exchange. According to a report by Bloomberg’s analysts Eric Balchunas and James Seyffart, this will happen in 2023, after cryptocurrency exchanges begin to be regulated by the US authorities. The SEC put forward an amendment on the definition of an “exchange” in early January 2022. If the amendment is enshrined in the legislation, the cryptocurrency exchanges will come under the SEC’s jurisdiction.
What else did the analysts add? The main reason for the SEC to refuse to list spot bitcoin ETFs on stock markets is that the cryptocurrency exchanges, which are major asset providers, are not compliant with the legislation. After the legislation is changed, this argument will no longer be valid, Balchunas and Seyffart believe.
According to the analysts, the amendments will be enacted between November 2022 and May 2023. Earlier, the SEC began examining NFT tokens for securities compliance.
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