SEC insider: Chances of Bitcoin spot ETF approval ‘are slim and none’
2023/08/20 11:45
Former SEC attorney and insider John Reed Stark has expressed doubt over the possibility of a spot Bitcoin Exchange Traded Fund (ETF) being approved by the U.S. Securities and Exchange Commission (SEC). Stark cited evidence of market manipulation and lack of regulation in the crypto industry as reasons for his skepticism. He also raised concerns over the ethical implications of the cryptocurrency boom, accusing the industry of rewarding fraud and unwittingly enlisting victims as participants in fraudulent activities. The SEC recently deferred its decision on the spot Bitcoin ETF, which has been seen as a potential catalyst for a market upswing.
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