All Bitcoin ETFs Have Been Rejected by the SEC

sec banned etf

Bitcoin ETFs are probably the most discussed topic in the crypto community at the moment. There are lot of different opinions on it, but its approval or rejection fully depends on the Securities and Exchange Commission which actually announced that the decision would be taken no sooner than in September.

However, the Commission has surprised everybody by revealing the decision yesterday, on the 22nd of August. The SEC has first put out proposal rejection for 3 crypto exchanges, the other ones came out shortly afterwards.

The reason for the denial was identical every time, the proposals did not comply with multiple laws, particularly with the rules “designed to prevent fraudulent and manipulative acts and practices.”

We want to remind you that the first ever ETF proposal cut off by the SEC came from the Winklevoss brothers.

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