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Patrick McHenry, chairman of the U.S. House Financial Services Committee, has weighed in on the SEC’s approval of Bitcoin (BTC) spot ETFs. McHenry noted that the approvals are a milestone for the U.S. cryptocurrency ecosystem.
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In a written statement, McHenry made some notable remarks, stating that today’s spot Bitcoin ETF approvals mark a historic turning point for the future of the U.S. digital asset ecosystem.
McHenry expressed satisfaction that investors and the market will have more access to this next-generation technology, and he viewed the approval as a significant improvement over the SEC’s past performance on regulation by enforcement.
McHenry’s statement also noted that “legislation that will provide clarity and certainty to digital assets is still necessary,” and he stated that they are committed to improving consumer protection and that they will provide that protection in digital asset markets through comprehensive market structure and stable payment legislation.
While there is still a need for regulations that will provide clarity and certainty to digital assets, McHenry stressed that this approval is a big step for investors and the cryptocurrency market.
Patrick McHenry’s remarks are seen as a positive development for Bitcoin and the cryptocurrency ecosystem. This means that investors and the market will have more access to this next-generation technology, and that it will help the evolution of comprehensive market structure and stable payment legislation.