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What NASDAQ has submitted a brand new utility to the SEC in search of approval for Blackrock’s Bitcoin ETF itemizing
Why Final week, the SEC expressed issues concerning the small print of the preliminary submission
What Subsequent The SEC has not but introduced a last determination date for the applying
Nasdaq has resubmitted its utility to the U.S. Securities and Alternate Fee (SEC) to listing a bitcoin exchange-traded fund (ETF) provided by BlackRock.
The up to date submitting contains extra particulars and addresses issues raised by the regulator concerning the preliminary utility, Reuters reviews.
Coinbase will collaborate with Nasdaq by offering market surveillance for the proposed ETF.
This transfer comes because the digital asset area goals to regain recognition after a difficult yr in 2022, which witnessed the collapse of a number of crypto ventures.
The SEC just lately sued Coinbase for allegedly failing to register as an change.
Nonetheless, Coinbase intends to problem the lawsuit, arguing that the crypto belongings traded on its platform don’t qualify as securities and subsequently shouldn’t be topic to SEC laws.
SEC Stays Defiant
The SEC has beforehand rejected quite a few spot bitcoin ETF functions, citing issues about compliance with requirements that safeguard in opposition to fraudulent and manipulative practices and shield the pursuits of traders and the general public.
Nasdaq’s up to date submitting and collaboration with Coinbase reveal efforts to deal with regulatory issues and meet the required necessities for a profitable bitcoin ETF.
These developments replicate ongoing efforts to deliver better accessibility and regulatory compliance to the digital asset market.
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