News - Political battle in SEC over Bitcoin Spot ETF approval

By Luc Vesters

Political battle in SEC over Bitcoin Spot ETF approval

Bitcoin (BTC)
ETF
Laws and regulations

The decision about the Bitcoin Spot ETF became political within the SEC. While the two Republican commissioners voted for approval, the two Democrats - Caroline Crenshaw and Jaime Lizárraga - were opposed.

Here's how the SEC commissioners voted on Bitcoin Spot ETF I Source: SEC

Here's how the SEC commissioners voted on Bitcoin Spot ETF I Source: SEC

Democrat Gary Gensler was the exception. According to rumors his decision also had political motives. After all, Republican senators have the SEC boss long on hit list.

In addition to Warren Davidson, the crypto-friendly Republican Tom Emmer the so-called "SEC Stabilization Act." In a statement, he said, "American investors and the industry deserve clear and consistent oversight, not political games."

The chaos around the Bitcoin Spot ETF a day before its official approval also caused discontent in the political ranks. In fact, the FBI is now investigating the matter.

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