“Remember that this is not Chair Gensler saying, ‘I’ve changed my mind’. This was the SEC gritting its teeth and being forced to walk through the gauntlet of ETF approval for spot bitcoin ETFs.”
Howard Fischer, partner at Moses Singer LLP and a former SEC litigator, says the ongoing compliance challenges associated with offering spot bitcoin ETFs and the regulatory uncertainty lingering in the crypto sector should somewhat curb our enthusiasm about the floodgates being thrust further open to retail investors.
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