Gary Gensler, chair of the U.S. Securities and Exchange Commission, has responded to a letter from lawmakers calling the regulator denying approval of Bitcoin spot exchange-traded funds “unacceptable.”
In a Tuesday letter from Gensler addressed to Minnesota Representative Tom Emmer, the SEC chair hinted that the regulatory body was no closer to approving a Bitcoin (BTC) spot ETF in the United States capable of preventing “fraudulent and manipulative acts and practices” by the standards of the Exchange Act. Gensler reiterated his stance of being technology-neutral, but that he would give “careful consideration” to the concerns Emmer raised in November.