The SEC has delayed the decision supported by the Bitcoin ETF of Trump as well as the Grayscale Solana Trust
The US Securities and Exchange Commission (SEC) on Monday delayed its decision on the suggested fact that the Bitcoin (ETF) exchange funds were exchanged for funding funds, which expanded the review deadline until Sept. 18 From August 4.
The funding, supported by the Trump Media and Technology Group, is looking for approval to list the fact that Social Bitcoin ETF at the NYSE ARCA Exchange under the SEC-Breastal Distribution Distribution Breastal framework.
The agency, which may take up to 270 days to approve or reject ETF applications, said it has expanded the Check Period to allow more time to evaluate the proposal and any issues that have been raised.
The SEC continues to be careful
Trump supported by Bitcoin ETF is not the only fund faced with delays from the SEC today. The agency also postponed Grayscale’s decisions Solana trustexpanded until October 10, and suggested Litecoin ETF.
Hester Peirce, a Commission on the SEC-called “Crypto Mom” for his pro-crypto stance-recently encouraged industry stakeholders to expect slower approval. “People have to be patient with … We have a constant trial we’re trying to work interview with Bloomberg in May.
However, today’s delays are fast by historical standards. It took a decade from the first Spot bitcoin etf application In 2013 for the SEC finally approved it in January 2024.
https://www.youtube.com/watch?v=DBYVWY_BR7Q
ETF questions by Trump
If approved, the fact that social Bitcoin ETF is the first Crypto ETF linked to an interest in the US president’s business. While the ETF itself did not draw formal resistance from the SEC, other deals associated with Trump raised questions about ethics, influence, and incredible, especially democrats.
In May, senators Elizabeth Warren and Jeff Merkley sent a formal letter to the government’s ethics office, calling for a crypto associated with Trump Deal Involving the World Liberty Financial, Binance and a United Arab Emirates (UAE) firm “a deprived conflict of interest.”
They write,
This deal has raised the frustrating expectation that Trump and Witkoff families can expand their stablecoin use as an avenue to earn from foreign corruption. “
There is also a concern that Trump can personally benefit from regulatory decisions that affect crypto markets or companies connected to its business adventures, especially if the SEC has approved a financial product that confirms or adds demand for the owners that are linked to his brand.
Trump has been actively engaged in the crypto industry since he was in office. On July 18, he Signed the Genius ActThe first US basic law to provide a clear framework of regulation for stablecoins.
On June 25, the director appointed by Trump of Federal Housing Finance Admmission (FHFA), William J. Pulte, released a directive that ordered Fannie Mae and Freddie Mac to prepare a Single-family mortgage underwritingwithout the need to convert to the US dollar.
Magazine: The risks in the US are ‘front run’ in Bitcoin Reserve by other countries – Samson Mow
