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Scott Johnsson|Feb 19, 2025 23:14
To be clear, acknowledgements generally mean nothing, particularly in this case. They are only noteworthy with respect to certain spot digital asset filings (like SOL) in which the SEC, under Gary, were refusing to acknowledge on the basis that they were being improperly filed under the listing exchange's commodity-based trust rule.
There is little discretion for the SEC to not acknowledge and provide notice when an exchange proposes a rule. Gary was just using a limited loophole to stop other spot crypto products from advancing and forcing him to provide judicially reviewable final agency action. That loophole wasn't even available in the case of proposed staking or in-kind create (nor would this new SEC even want to use it).
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