The User Securities and Exchange Commission (SEC) on Monday delaying its decision on the proposed truth social bitcoin exchange-fired (ETF), extinguishing the review from August to 18 September. 4.
Supported by Trump Media and Technology Group, this fund is demanding approval to list the truth social bitcoin ETF on the NYSE Arca Exchange under the SECUS Commodity-based trust share framework.
The agency, which may take up to 270 days to approve or reject ETF applications, save it, extend the review period of the proposal to evaluate more time and any issue to evaluate the proposal.
Second to take precautions
Trump-supported bitcoin ETF was not the only fund facing delays from today. The agency also postponed the verdict on the Solana Trust in Grassscale, which increased to October 10, and the proposed Litcoin ETF of Canary Capital.
Hester Peerus, a commissioner urged the industry stakeholders to expect slow approval to the “Crypto Mom”, SEC-dubged for its pro-crypto attitude. “People have to be patient … We have some outgones through which we are trying to work.
Nevertheless, today’s delay is faster than historical standards. This is more than a decade from the first spot bitcoin ETF application in 2013, which is first to approve it in January 2024.
https://www.youtube.com/watch?v=dbyvwy_br7q
Question on Trump’s ETF
If approved, the truth social bitcoin ETF cloud uses American business interests for the first crypto ETF line. While ETF itself has formally worked with SEC, other trump-linked crypto deals have especially questioned questions about morality, effects and attainment, especially. Democrat.
In May, Senator Elizabeth Warren and Jeff Merkle sent a formal letter to the government’s morality official, in which Trump-Linked Crypto Deal Investing World Library Finance, and a United Arab Emirates (UAE) firm “a conflict of interest”.
He has written,
The deal enhances the disturbing probability that the count of Trump and Vitcoff families expands the use of its stabelcoin as an avenue to the profession from foreign corruption. ,
There is also a concern that Trump can individually benefit from regulatory decisions that affect the firms associated with crypto markets or their commercial undertakings, which first approve a financial product. This increases the demand for assets associated with its brand valid or increases.
Trump is actively engaged to the Crypto industry, he has an office. On July 18, he signed the Genius Act, the first major American law to provide a clear regulator Framework for Stabecoin.
On 25 June, Director, William J., appointed by Trump of Federal Housing Finance Administration (FHFA). Pulte, giving an instruction to Fanny Mae and Freddy Mac, who gives a proposal to prepare proposals to prepare proposals for the treatment of a cryptocurrency holding without a single-family hostage underwriting for the US dollar.
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