SEC Endorses Common ETF Listing Guidelines, Streamlining ETF Approval Process by Abandoning Individual Approvals
The crypto community has been abuzz with positive responses following recent developments in Washington D.C. The Senate Banking Committee, led by its chair and ranking members, has convened a roundtable discussion on cryptocurrency market legislation.
At the heart of this discussion is Charles Hoskinson, Founder of Cardano, who is actively participating in the proceedings. Hoskinson, a popular industry figure, joins other crypto leaders in a collaborative effort to create clarity for the growing industry.
One of the key decisions made during the roundtable was the approval of generic ETF listing standards for digital assets. This move, supported by the Trump administration, eliminates the need for individual approvals for ETFs, expediting the approval process and reducing case-by-case uncertainty.
If the generic ETF listing standards are met, the ETF approval process goes through automatically. Crypto enthusiasts are eagerly anticipating the potential approval of pending ETFs, including those for ADA, XRP, NEAR, and several other altcoins.
The SEC's Chair, Gensler, was replaced when Trump took office. The new administration's focus on innovation in the crypto industry is evident in its efforts to create a more transparent future for digital assets.
In line with this vision, the Trump administration is also considering the establishment of the US Strategic Reserve. This decision, aimed at unlocking major opportunities for digital assets at scale, further solidifies America's position as a potential global crypto hub.
Brian Armstrong, CEO and Co-Founder of Coinbase, has been instrumental in the process to get a strong and transparent market structure passed for crypto in DC. Armstrong, pleased with the decision, believes it ensures the industry can be built in America, driving innovation and protecting consumers.
The move towards a more regulated and supportive crypto industry in the US is a significant step forward. As discussions continue, the industry eagerly awaits further developments and the potential for a brighter future for digital assets.
