SEC Hack Adds to Unease Over Bitcoin ETF Approval | EUROtoday

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Jan. 10, 2024 11:47 am ET

WASHINGTON—The hack of the Securities and Exchange Commission’s X account this week possible complicates an anticipated vote Wednesday on whether or not to greenlight exchange-traded funds holding bitcoin.

The resolution, which individuals near the company anticipate to happen through a closed-door vote by the company’s 5 commissioners, was already controversial. U.S. regulators have little visibility into crypto markets, which SEC Chair Gary Gensler has stated are rife with fraud and manipulation. A bitcoin ETF might draw extra traders into the asset class, doubtlessly exposing them to hurt, critics say.

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