Endorsing a crypto cash ETF is 'all about political power' - Perianne Boring

Chamber of Digital Commerce CEO Says Passing Any Type of Legislation - Including Crypto and Blockchain Bills - will be "incredibly difficult" in a divided government.

Perianne Boring, founder and CEO of blockchain advocacy group Chamber of Digital Commerce, has placed the lack of approval of a Bitcoin exchange-traded fund in the United States directly on the chairman of the Securities and Exchange Commission , Gary Gensler, suggesting that politics played more of a role than economics.

Speaking to Cointelegraph at the Texas Blockchain Summit in Austin on Nov. 18, Boring said events surrounding FTX's collapse may have "emboldened the enforcement-based approach" of the Securities and Exchange. Commission and the U.S. Treasury, with Republican lawmakers likely to focus on oversight using their House majority in the upcoming Congress. Digital Chamber of Commerce CEO says passing any type of legislation – including crypto, blockchain and stablecoin bills – will be “incredibly difficult” in a divided government, making it more likely the possibility of executive orders and regulation by application. /p>

"On the House side, we're going to see increased surveillance efforts, but I don't think crypto is actually going to be the priority," Boring said. "Oversight hearings [...] they will have the power to subpoena, they have the power to swear, so they can bring in different people within the agencies to look at their approach to digital assets."< /p>

The House CEO suggested that the apparent lack of urgency in Congress could delay the passage of crypto-related legislation, while a Bitcoin exchange-traded fund (BTC), or ETF, was in the hands of the SEC:

"It's been a decade since the first Bitcoin spot ETF was offered [...] We still don't have one, but we do have a Bitcoin futures ETF. So how does that make sense It's all about political power, so it really comes down to President Gensler."

Did you know the industry has been trying to market a #bitcoin spot ETF since 2013? Almost 10 years in the making and we still don't have one. The question arises: why? Our short report...