Press Releases

WASHINGTON, D.C. – Rep. French Hill (AR-02), Vice-Chairman of the House Financial Services Committee and Chairman of the Financial Services Subcommittee on Digital Assets, alongside Majority Whip Tom Emmer (MN-06), today sent a letter to Securities and Exchange Commission (SEC) Chair Gary Gensler regarding his regulatory inconsistency in his treatment of spot bitcoin exchange-traded products (ETP) applications.

 

“The reasoning behind the SEC’s continued refusal to approve a spot bitcoin exchange-traded products (ETPs) appears to be inconsistent and doesn’t take into account what we know from other jurisdictions where regulators have approved similar products,” said Hill. “We look forward to Chair Gensler’s appearance before the Financial Services Committee today and his response to our letter.”

 

“The SEC’s approach to cryptocurrency regulation has been unacceptable,” said Emmer. “Chair Gensler has exhibited regulatory inconsistency between his treatment of bitcoin futures ETPs, which he has allowed to trade in the United States, and bitcoin spot ETPs, which he continually denies the American people from accessing. The SEC must provide consistency of treatment to the marketplace and retail investors in the United States are worse off because of the Chair’s decision to deny all bitcoin spot ETP applications. We look forward to the SEC’s response to our concerns.”