Regulation
Gary Gensler Reaffirms Crypto Regulatory Stance Amid Resignation Calls
Ahead of Donald Trump’s team taking office, US SEC Chair Gary Gensler has reiterated his commitment to regulating the cryptocurrency market, stating that stricter oversight is necessary to protect investors. Speaking at the Practicing Law Institute’s Annual Institute on Securities Regulation in New York, Gensler highlighted the importance of clear “rules of the road” for the industry.
Gensler has also pointed out that many of these assets are securities and should, as such, be regulated by existing securities laws, which include the disclosure and registration rules.
US SEC Chair Gary Gensler’s Stance on Crypto Regulation
US SEC Chair Gary Gensler has argued that the cryptocurrency market needs regulatory safeguards similar to those in traditional financial markets. He emphasized that while Bitcoin is the only asset that does not fall under the category of securities, other forms of digital assets should be considered securities based on the current legal framework.
Gensler said, “Court after court has agreed with our actions to protect investors,” pointing out that the SEC is empowered to implement these laws in the crypto sector.
Gensler pointed out that most other digital assets outside of Bitcoin have yet to demonstrate clear utility and could potentially threaten investors. His comments are made just as a last attempt to build regulatory frameworks before the new Trump administration takes office, with candidates like Robinhood CLO Dan Gallagher emerging as the leading candidates to replace Gensler.
Gary Gensler Highlights SEC Accomplishments
In his speech, US SEC Chair Gary Gensler outlined some of the regulatory measures he has implemented since taking office. He mentioned new requirements for enhancing the quality of information companies provide, such as those concerning executive compensation and data breaches.
Gensler also discussed improvements in market infrastructure, including the accelerated settlement period for stocks and stricter rules for Treasury clearing.
Besides his achievements, Gensler also mentioned that he was proud of his work at the SEC, calling it “a remarkable agency.” He thanked his colleagues and noted that the US SEC will still play a significant part in ensuring that there are proper protections for investors in the United States. Gary Gensler’s comments amid speculations that he could resign this week.
Resignation Calls and Future of the SEC
Since Donald Trump’s re-election, Gary Gensler has come under pressure to resign, including from ex-SEC official John Reed Stark. Stark, an outspoken opponent of Gensler’s regulation of the cryptocurrency industry, said that Gensler should leave the position to make it easier for the new SEC chairman to come in.
Gary Gensler has, however, not given any signs of quitting his position despite the calls for his resignation. Some have opined that he may resign in the event that Trump appoints a new SEC chairperson with a friendly disposition towards cryptocurrencies. Donald Trump has expressed his desire to create a conducive environment for cryptocurrency, which will lead to changes in the agency’s policies and the firing of Gensler.
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
India is reviewing its cryptocurrency regulations following global policy changes and shifting attitudes towards digital assets. The country is reassessing its approach as various governments, including the United States, introduce new policies on cryptocurrency.
India To Reevaluate Cryptocurrency Regulations
India is reconsidering its cryptocurrency regulations as several countries adopt new policies regarding digital assets. Economic Affairs Secretary Ajay Seth stated that the government is revisiting its discussion paper on cryptocurrency to align with global developments.
“More than one or two jurisdictions have changed their stance towards cryptocurrency in terms of usage and acceptance. In that stride, we are having a look at the discussion paper once again,” Seth told Reuters.
The reassessment comes after U.S. President Donald Trump ordered the creation of a cryptocurrency working group to explore new regulations. India recognizes that digital assets operate beyond borders, making it necessary to review its position in coordination with international policies.
This Is A Developing News, Please Check Back For More
Kelvin Munene Murithi
Kelvin is a distinguished writer with expertise in crypto and finance, holding a Bachelor’s degree in Actuarial Science. Known for his incisive analysis and insightful content, he possesses a strong command of English and excels in conducting thorough research and delivering timely cryptocurrency market updates.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The U.S. Securities and Exchange Commission (SEC) has approved the listing and trading of the Bitwise Bitcoin and Ethereum exchange-traded fund (ETF). This decision allows NYSE Arca to list and trade shares of the fund, which will hold both Bitcoin and Ethereum alongside cash reserves. The approval was granted on an accelerated basis, as indicated in the SEC filing released on January 30, 2025.
US SEC Approves Bitwise ETF Holding Both Bitcoin and Ethereum
According to the recent filing, the SEC approved the Bitwise ETF on an accelerated basis. The approval permits NYSE Arca to list and trade the ETF, which will provide investors with direct exposure to both Bitcoin and Ethereum.
The Bitwise ETF will hold spot Bitcoin, Ethereum, and cash reserves. This structure is designed to offer diversified exposure to the two largest cryptocurrencies by market capitalization. The SEC’s approval follows a series of crypto-related ETF filings submitted by multiple financial firms in recent months.
Following the ongoing trend on crypto ETFs, a report highlighted that Grayscale filed for a spot XRP ETF with the New York Stock Exchange (NYSE). The asset manager will convert its existing XRP Trust into an ETF, which would be listed and traded on the exchange. This move comes shortly after Grayscale filed for Litecoin and Solana ETFs, signaling increasing interest in crypto investment products.
Pending S-1 Registration Required for Trading
Despite the approval of form 19b-4, the Bitwise ETF still requires SEC clearance for its pending S-1 registration. Both steps are necessary before the fund can begin trading on the exchange.
The S-1 registration review will determine compliance with regulatory standards, including investor protection measures and transparency requirements. Bitwise Asset Management must await further approval before officially launching the ETF in the market.
In the Thursday filing, the US SEC wrote,
“In particular, the Commission finds that the Proposal is consistent with Section 6(b)(5) of the Exchange Act, which requires, among other things, that the Exchange’s rules be designed to ‘prevent manipulative acts and practices’ and, ‘in general, to protect investors and the public interest.”
Broader Regulatory Shift in Crypto ETFs
The US SEC decision reflects an evolving regulatory stance on cryptocurrency ETFs. Under the current administration, firms have submitted multiple applications to launch similar financial products. Recently, VanEck and ProShares filed for ETFs tracking assets like Litecoin, XRP, and Solana.
The approval of the Bitwise ETF follows prior approvals in December 2024 for crypto index ETFs from firms such as Hashdex and Franklin Templeton.
It is worth noting that earlier in the week, the asset management firm submitted an S-1 filing with the US SEC for a spot Dogecoin ETF. Bitwise confirmed that the ETF’s Net Asset Value (NAV) will be based on the Dogecoin-Dollar settlement benchmark from CF trading.
Bitcoin and Ethereum prices have shown movement following the announcement. At press time, Bitcoin is trading at $104,612.69 with a 1.13% increase over the past week, while Ethereum stands at $3,269, gaining 4% in the last 24 hours.
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The parents of FTX co-founder Sam Bankman-Fried have reportedly sought legal advice on securing a presidential pardon for their son from Donald Trump. Joseph Bankman and Barbara Fried, both Stanford Law School professors, have held meetings with legal professionals and individuals connected to Trump’s circle regarding potential clemency.
Their efforts come after Sam Bankman-Fried was sentenced to 25 years in prison for fraud related to the collapse of the cryptocurrency exchange FTX.
Sam Bankman-Fried’s Parents Meet Lawyers to Secure Trump’s Pardon
According to a recent Bloomberg report, Sam Bankman-Fried’s parents are exploring ways to secure a pardon from Donald Trump. They have met with lawyers and other individuals linked to Trump’s network.
These discussions focused on the possibility of obtaining clemency for their son. However, there is no confirmation of any direct outreach to the White House.
Notably, during his presidency, Donald Trump granted pardons to several high-profile individuals. The case of Ross Ulbricht, founder of Silk Road, has been a key reference point for those seeking similar relief. Ulbricht, convicted of drug trafficking and money laundering, received a strong push from the crypto community for clemency.
Unlike Ulbricht, Sam Bankman-Fried does not currently have widespread public support advocating for a pardon. However, he has argued that his 25-year sentence was excessive, citing that most FTX customers have recovered their lost funds. Some legal experts believe this claim could be a factor in potential clemency discussions.
This Is A Developing Story, Please Check Back For More
Ronny Mugendi
Ronny Mugendi is a seasoned crypto journalist with four years of professional experience, having contributed significantly to various media outlets on cryptocurrency trends and technologies. With over 4000 published articles across various media outlets, he aims to inform, educate and introduce more people to the Blockchain and DeFi world. Outside of his journalism career, Ronny enjoys the thrill of bike riding, exploring new trails and landscapes.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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