The rethinking should be added to the menu for funds quoted by the exchange of cryptography (ETF), a bipartisan group of US senators argued in a letter to the stock and values commission (SEC) on Thursday.
Crypto ETFs issuers had originally planned to include the rethinking function in their fund offers, but the SEC, under their previous leadership, had resisted the idea. The agency, led by President Gary Gensler until the administration of President Donald Trump arrived last month, had carried out compliance actions against companies such as Kraken, arguing that Staking was equivalent to an offer of unregistered values.
The letter of the senators, backed by Cynthia Lummis, the republican president of a subcommittee of the Senate that focuses on digital assets, requires reconsidering the practice, which implies blocking digital tokens to support Blockchain operations in exchange for rewards. The protocol reference is key to the safety of ecosystems such as Ethereum, support the supporters.
“We encourage the SEC to consider the potential benefit for investors to allow the protocol to establish a certain digital asset [exchange-traded products]”The letter to the interim president of the SEC, Mark Uyeda, argued.
Other Republicans joined Lummis in the correspondence, and also two Democrats did: their usual cryptographic partner, Kirsten Gillibrand in New York, and also Oregon Ron Wyden.
Read more: rethinking in ETFS Ethereum could be a matter of when, not if
