By: Isha Das
The U.S. Securities and Exchange Commission (SEC) is currently involved in several noteworthy interactions with the cryptocurrency industry. Notably, the SEC has filed a lawsuit against a leading cryptocurrency exchange, Kraken. The agency alleges that Kraken has been operating as an unregistered securities exchange, a charge reminiscent of previous losing lawsuits launched by the regulatory body.
Meanwhile, the SEC has also been in discussions with various asset managers, including Grayscale, in regards to proposed spot Bitcoin Exchange-Traded Funds (ETFs). These meetings have projected a vision of a changing landscape for Bitcoin investments. Furthermore, Grayscale has augmented their chances in the impending decision on whether they will be allowed to launch a Bitcoin ETF by procuring a new team leader - a former Head of Americas at Invesco, John Hoffman.
While the SEC is showing increasing dialogues around Bitcoin ETFs, it is yet to publicly state any plans to approve one. These proceedings, juxtaposed with court skirmishes like those with Kraken, highlight the regulatory challenges crypto-based businesses face in the United States.
Related: Bitcoin News, Kraken News