SEC Chairman: Will weigh spot Bitcoin ETF application based on recent court ruling

Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), said in an interview with CNBC today that the agency's "new view" on the application for a Bitcoin ETF involves a recent court ruling. He said, "We have previously rejected some such applications, but the District of Columbia Court has weighed in on this, so we will review the issue again based on the court's ruling." Gensler reiterated his view that the crypto industry has many cases of non-compliance with existing securities laws. He said, "There are too many fraud and bad behavior in the cryptocurrency field. Not only does it violate securities laws, but it also violates other laws that protect the public from bad actors, such as anti-money laundering laws."