The sec approves generic registration standards for FNB based on raw materials

The American Commission for Securities and Exchange has approved standards that could accelerate the SPOT Crypto ETF approvals, because each request would not have to be evaluated individually.

The decision, detailed in the deposits of the dry on the scholarships such as the Nasdaq, Nyse Arca and CBOE Bzx, Wednesday, would rationalize the process under the 6C-11 rule, considerably reducing the approval times, which have taken several months in the past.

“By approving these generic registration standards, we make sure that our capital markets remain the best place in the world to engage in advanced innovation of digital assets,” said the president of the SEC, Paul Atkins, in a separate press release.

“This approval makes it possible to maximize the choice of investors and to promote innovation by rationalizing the registration process and by reducing the obstacles to access to digital asset products on the markets of trust capital in America.”

It is available in the form of Spot ETF applications for Solana (Sol), XRP (XRP), Litecoin (LTC) and Dogecoin (DOGE) await official approval.

The SEC was faced with deadlines from October to decide these cases, in addition to a handful of others, notably Avalanche, (Avx), ChainLink (Link), Polkadot (DOT) and BNB (BNB).

Development has been considered optimistic by numerous industry experts, including Bloomberg Etf James Seyffart analyst, who said: “This is the FTM Crypto that we expected.”

He expects a wave of crypto investment products to get to the United States in the weeks and months to come.

Dry, eTF
Source: Eric Balchunas

The dry defines clear standards

To be eligible for registration, an Crypto Spot ETF must have a merchandise that is negotiated on a market which is part of the intermarket surveillance group with surveillance access, or underlies a contractual contract listed on a contract of contracts designated for at least six months with a surveillance sharing agreement.

In relation: Dry, Gemini Trust Reach Agreement on Crypto Lending Contested

Alternatively, it can be eligible if it is already followed by an ETF with at least 40% exposure listed on a national exchange of securities, said the securities regulator.

An exchange must submit a rule file to the SEC when you are looking to list and exchange negotiated products in exchange for crypto which do not meet the approved generic rating standards.

Crenshaw Flags of dry investors

The SEC commissioner Caroline Crenshaw spoke concerned about new registration standards, warning that they could lead to a flooded market of products that have not been fully verified for investor protection.

“The Commission adopts the basis of examining these proposals and the implementation of the required investors’ protection conclusions, in favor of the rapid monitoring of these new products undoubtedly on the market.”

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