Summary
House Republicans have praised the US Securities and Exchange Commission (SEC) for approving a slate of bitcoin exchange-traded funds (ETFs), calling it a “historic milestone” for the crypto industry. The approval was seen as a significant improvement over the SEC’s previous approach to regulating digital assets. House Majority Whip Tom Emmer also hailed the news as a victory for the crypto industry. The statement from Republicans comes after the SEC’s Twitter account was apparently compromised on Tuesday, leading to a false announcement that bitcoin ETFs had been approved.
Key Points
1. House Republicans praised the US Securities and Exchange Commission for approving a slate of bitcoin ETFs, calling it a “historic milestone” for the crypto industry.
2. House Majority Whip Tom Emmer stated that the approval signified the crypto industry’s victory over bureaucratic roadblocks and odds.
3. Representatives French Hill and Patrick McHenry expressed their satisfaction that investors and markets will now have greater access to the technology, while also acknowledging the need for legislation to provide clarity and certainty for digital assets.