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US SEC has no plans to regulate Bitcoin this year

Updated: Aug 23, 2024
Published: Jun 15, 2021
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The United States Securities and Exchange Commission (SEC) might not regulate Bitcoin this year as its 2021 regulatory agenda doesn't include cryptocurrencies.

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US SEC might not regulate Bitcoin this year

The cryptocurrency market has been growing rapidly, and several regulatory agencies globally are now focusing their attention on the industry. However, the United States regulators might not feel the same way as Bitcoin wasn't included in their regulatory agenda for 2021.

The SEC published its regulatory agenda for 2021, but Bitcoin wasn't included. Instead, the regulatory agency is focusing on short-selling, a topic that has gained widespread attention following the GameStop and AMC stocks saga.

The SEC's exclusion of cryptocurrencies comes as a surprise following the numerous comments from SEC chair Gary Gensler in recent weeks. While speaking at the Financial Industry Regulatory Authority's annual conference, Gensler said, "This is a quite volatile, one might say highly volatile, asset class, and the investing public would benefit from more investor protection on the crypto exchanges."

Gensler has maintained that the SEC has jurisdiction over securities and some cryptocurrencies are securities. "There's a lot of authority that the SEC currently has in the securities space, and there are a number of cryptocurrencies that fall within that jurisdiction, but there are some areas, particularly bitcoin-trading on large exchanges, that the public is not currently really protected," he added.

Several countries are already rolling out the regulatory framework for cryptocurrencies as the market continues to grow and attract institutional and retail investors.

SEC delays Kryptoin's Bitcoin ETF decision

With the SEC not including Bitcoin in its 2021 agenda, some experts are already predicting that the agency might not approve any Bitcoin exchange-traded fund (ETF) this year. So far, it has postponed the decisions for the VanEck and WisdomTree Bitcoin ETF applications.

The regulatory agency has now postponed the decisions for the Kryptoin Bitcoin ETF proposal. The SEC has delayed its decision another 45 days to July 27, 2021. Per the commission, the delay would give it time to adequately review the ETF proposal.

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