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US Congressmen wants the SEC to approve the launch of a Bitcoin spot ETF

Industry News

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The USA government is at the risk of being divided into two camps: crypto-supporters and crypto-critics.

The US SEC recently postponed the approval of the Bitcoin spot ETF fund – the application had been sent by Valkyrie Investments. Meanwhile, two American Congressmen understand such a decision as unfair.

Todd Emmer and Darren Soto applied to the commission with a letter asking the SEC chairman to welcome the spot Bitcoin-based fund to the US market. According to the letter, congressmen see no reasons for denying the approval.

Congressman Emmer represents the Republican party from Minnesota, while Soto is a Democratic representative of Florida.

“Digital assets are the driving force of the economic growth; this is why we need to accept clear regulation to open new opportunities for investors,” US officials comment on their letter.

In the meantime, US Senator Ted Cruz suggests the government accept crypto payments in the Senate. The proposal concerns gift shops, vending machines, and other businesses available for senators. Cruz highlights that the country is among the leading crypto-acceptors, and the Senate lags in development.

According to a recent survey, 36% of medium and small US companies have already added crypto payments for their consumers.

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