Congressman Tom Emmer, who recently submitted a digital currency bill to parliament, harshly criticized the US Securities and Exchange Commission (SEC), which rejected the Fidelity investment company’s spot ETF application. Evaluating the SEC’s decision on his Twitter account, Emmer said, “A new day and a new groundless rejection from the SEC for a Bitcoin spot ETF…”
US Congressman Tom Emmer, one of the names that has a positive view on cryptocurrencies, has targeted the SEC, headed by Gary Gensler, which has been the target of many analysts recently. Emmer wrote a clear and short sentence on the subject on his Twtter account, describing the institution’s refusal as baseless.
Yesterday, the SEC once again rejected a spot ETF application, citing investor protection and fraud risk as the reason. In contrast to the US Securities and Exchange Commission, the Canadian counterpart of the institution had accepted Fidelity’s spot ETF application just a month ago. As it is known, Canada became the first in the world in this sense by accepting Bitcoin spot ETF requests at the beginning of last year.
In October, the SEC, which started to accept applications for Bitcoin ETFs with fixed futures, continues its insistence on the issue of spot ETFs. The institution also rejected the ETF applications of SkyBridge Capital last week and Valkyrie and WisdomTree in December. After the futures ETF adoptions, the price of Bitcoin rose from $ 40,000 to $ 69 thousand. However, the SEC also rejected spot ETF applications.
Also known as cryptocurrency friend, Tom Emmer and another Congressman, Darren Soto, also sent a letter to SEC chairman Gary Gensler in November, saying that spot ETFs are much safer.