U.S. Securities and Exchange Commission Rejects Two Bitcoin Spot Exchange-Traded Funds (ETFs) - BitcoinEthereumNews.com
Bitcoinयूएस सिक्योरिटीज एंड एक्सचेंज कमीशन ने दो बिटकॉइन स्पॉट एक्सचेंज-ट्रेडेड फंड्स (ईटीएफ) को खारिज कर दिया03 / 12 / 2022बिटकॉइन एथेरियम समाचार The U.S. Securities and Exchange Commission (SEC) is denying applications to establish two Bitcoin (BTC) exchange-traded funds (ETFs) based on the spot market. According to documents from the SEC, the regulator is rejecting NYSE Arcas bid to change a rule to list and trade shares of the NYDIG Bitcoin ETF. The decision comes months after the SEC designated an extended period to approve or disapprove the proposed rule change. In a separate filing, the regulator also denies Cboe BZX Exchanges proposal to change a rule so they could do the same to the Global X Bitcoin Trust. In both cases, the SEC says that neither NYSE nor BZX meets the minimum legal requirements needed to properly operate a securities exchange platform within the United States. “The Commission concludes that [NYSE Arca and BZX] have not met [their] burden under the Exchange Act and the Commission‘s Rules of Practice to demonstrate that [their] proposals [are] consistent with the requirements of Exchange Act Section 6(b)(5), and in particular, the requirement that the rules of a national securities exchange be ’designed to prevent fraudulent and manipulative acts