{"id":377241,"date":"2021-12-06T20:15:00","date_gmt":"2021-12-06T17:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6\/"},"modified":"2021-12-06T20:15:00","modified_gmt":"2021-12-06T17:15:00","slug":"law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6\/","title":{"rendered":"# Law Decoded: Bitcoin exchange-traded funds are put on the spot again, Nov. 29\u2013Dec. 6"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a502b5dbc2e1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a502b5dbc2e1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6\/#SEC_on_the_ETF_hot_seat_again\" >SEC on the ETF hot seat again<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6\/#Crypto_CEOs_to_go_up_the_Hill\" >Crypto CEOs to go up the Hill<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6\/#Clampdown_updates\" >Clampdown updates<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Law Decoded: Bitcoin exchange-traded funds are put on the spot again, Nov. 29\u2013Dec. 6 <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvOGNmYjNiMGEtNGYzMi00NjlkLWJlZmQtMjllYmI5NDliMTYyLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Do you remember the time when a fleeting mention of Bitcoin, stablecoins or even central bank digital currencies by a top-ranking government official was considered major <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> all over the cryptoverse? Feels like it\u2019s been forever. As we find ourselves in the midst of digital assets\u2019 global mainstreaming, such statements come in droves every day and are expected. Randal Quarles, an outgoing member of the U.S. Fed\u2019s board of governors, warned against overregulating stablecoins and even rebuked some of the conclusions that the President\u2019s Working Group on Financial Markets had articulated in its November report. Treasury Secretary Janet Yellen admitted to remaining undecided on the issue of the digital dollar, but prospective Fed vice chair Lael Brainard seems to be all in on the CBDC project. It goes without saying that the leading makers of economic policy are deeply immersed in these issues.<\/p>\n<p>Below is the concise version of the latest \u201cLaw Decoded\u201d newsletter. For the full breakdown of policy developments over the last week, register for the full newsletter below.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"SEC_on_the_ETF_hot_seat_again\"><\/span>SEC on the ETF hot seat again<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Meanwhile, the Securities and Exchange Commission is standing its ground on spot Bitcoin exchange-traded funds. WisdomTree\u2019s <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>lication for a spot BTC product to be traded on the CBOE bZx Exchange became yet another to be turned down by the regulator. The rationale for the decision was familiar as the SEC\u2019s verdict cited the proposed ETF\u2019s sponsors\u2019 lack of demonstrated capacity to prevent fraud and manipulation and protect investors.\u00a0<\/p>\n<p>The SEC has been under fire from multiple directions for its discriminatory stance of accepting derivatives-based products based on an asset\u2019s derivatives while inhibiting the products based on the asset, itself. The latest round of criticism came from asset manager Grayscale Investments in a letter to SEC Secretary Vanessa Countryman where the firm argues that the failure to treat the two types of BTC-based products equally constitutes a violation of the Administrative Protections Act (APA). <\/p>\n<h3><span class=\"ez-toc-section\" id=\"Crypto_CEOs_to_go_up_the_Hill\"><\/span>Crypto CEOs to go up the Hill<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Later this week, the U.S. House Committee on Financial Services is calling a hearing focused\u00a0squarely\u00a0on digital assets and the future of finance \u2014 in fact, that is what the hearing is officially called. Top crypto CEOs, including those of Circle, FTX, Bitfury and Coinbase, will climb Capitol Hill to make their case for the benign regulation of the industry and defend its role in the nation\u2019s economic competitiveness. This could be the biggest opportunity in months for the leaders of the crypto space to catch key lawmakers\u2019 ears and deliver their opinions and recommendations  directly.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Clampdown_updates\"><\/span>Clampdown updates<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>The last issue of this newsletter focused extensively on the disconcerting news out of India where a new bill hinted at a possible blanket ban on all \u201cprivate cryptocurrencies.\u201d The good news is that things might be less dreadful than they initially appeared. The bill\u2019s sponsor, former Indian Finance Secretary Subhash Garg, followed up with a statement that the language around the prospective ban was \u201cmisleading\u201d and that the actual shape of the nation\u2019s crypto regulation will emerge after extensive discussions with stakeholders and industry participants.<\/p>\n<p>Furthermore, a cabinet note obtained by local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> suggests that the government had been eyeing a set of regulatory measures around crypto assets rather than an outright ban.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/law-decoded-bitcoin-exchange-traded-funds-are-put-on-the-spot-again-nov-29-dec-6\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Law Decoded: Bitcoin exchange-traded funds are put on the spot again, Nov. 29\u2013Dec. 6 &#8221; Do you remember the time when a fleeting mention of Bitcoin, stablecoins or even central bank digital currencies by a top-ranking government official was considered major news all over the cryptoverse? Feels like it\u2019s been forever. As we find&#8230;<\/p>\n","protected":false},"author":1,"featured_media":377242,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvOGNmYjNiMGEtNGYzMi00NjlkLWJlZmQtMjllYmI5NDliMTYyLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74858,74863,78031,74898,52214,17318,70934,8575],"class_list":["post-377241","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin-regulation","tag-cryptocurrencies","tag-reserve-bank-of-india","tag-sec","tag-congress","tag-india","tag-regulation","tag-usa"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/377241","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=377241"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/377241\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/377242"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=377241"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=377241"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=377241"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}