ASA Statement on House Digital Assets Hearing
WASHINGTON – The American Securities Association (ASA) today again urged the Securities and Exchange Commission (SEC) to approve a spot market Bitcoin ETF ahead of a House Financial Services Committee hearing on digital assets and the future of finance.
“The SEC has an opportunity to embrace a regulatory framework that provides needed investor protections and clarity for every American demanding access to invest in a Bitcoin spot ETF,” said ASA CEO Chris Iacovella. “It’s time for the Commission to follow the CFTC’s lead—Bitcoin is a commodity—and should be treated and regulated as such, just like gold. There are no material differences or investor protection concerns worthy of limiting investor access and choice to a commodity ETF that offers a regulated product to millions of Americans. ASA thanks Reps. Emmer and Soto for their bipartisan leadership on Bitcoin and we look forward to working with the SEC to embrace this regulatory space to meet the needs of today’s investors.”
In October, ASA welcomed the trading of a Bitcoin futures ETFs but called on the SEC to allow investors to trade ETFs that hold physical cryptocurrencies. ASA also sent a letter to the Senate Banking Committee urging the SEC to take bold and comprehensive action to establish cryptocurrency rules of the road and protect investors.
ASA’s regional financial services companies work in communities across the country to create jobs, grow the economy, and increase prosperity for all Americans. The ASA exclusively represents the capital market and private client interests of its members and seeks to promote free market principles making it easier to access financial advice and capital. ASA members help Americans save for retirement, provide Main Street businesses with capital to grow, and advise hardworking Americans how to create and preserve wealth. For the latest updates follow @AmerSecurities and learn more at http://americansecurities.org/.