Bitcoin ETF under approval? Gary Gensler sounds the alarm

The race for Bitcoin ETFs has reached its climax, but Gary Gensler, the big boss of the U.S. Securities and Exchange Commission (SEC), has just issued a serious warning. Yesterday, via his Twitter account, he shared some crucial advice for those considering investing in crypto assets. Stay tuned to find out everything!

Gary Gensler still sees dark clouds in cryptos

Last October, at the 2023 Forum on Securities Law Enforcement, Gensler shook the crypto world by talking about fraud, scams, and money laundering. Since then, his opinion hasn’t changed one iota. He insists.

2⃣ Investments in crypto assets also can be exceptionally risky & are often volatile. A number of major platforms & crypto assets have become insolvent and/or lost value. Investments in crypto assets continue to be subject to significant risk.

— Gary Gensler (@GaryGensler) January 8, 2024

“Investments in crypto assets can also be exceptionally risky and are often volatile. A number of major platforms and crypto assets have become insolvent and/or lost value. Investments in crypto assets remain subject to significant risks.“

Why so many warnings from Gary Gensler? Watcher Guru believes that as the head of the primary regulatory institution for “securities” and “exchanges” in the United States, he has a privileged view behind the scenes of major exchanges like Binance and Kraken. He warns investors of serious risks.

Hence his first remark slipped into his Twitter thread:

“People offering investments/services in crypto assets may not comply with applicable laws, including federal securities laws. Investors in crypto assets should understand that they may be deprived of key information and other important protections related to their investment“.

A final warning before the ETFs?

Gensler’s intervention, as the January 10 deadline approaches for the verdict on Bitcoin Spot ETFs, has not escaped the crypto community’s notice.

Owen Simonin, aka Hasheur, responded promptly.

When the eyes of the entire ecosystem are on you. A few hours before the green light for SPOT ETFs.

It's no longer regulation you're doing, sir, it's politics.

— Hasheur (@PowerHasheur) January 8, 2024

When the eyes of the entire ecosystem are on you. Just hours before the green light for SPOT ETFs. You’re not regulating, sir, you’re playing politics.

Thus, the head of Meria (Just Mining) joins the clan of optimists regarding the approval of Bitcoin Spot ETFs. A recent report from Bitwise further specified that 39% of financial experts make up this group.

In any case, Gary Gensler’s announcement has made waves. Bitcoin, boosted by the news, flirted with the $47,000 mark yesterday.

At the time of writing this article, the queen of cryptos was valued at $46,770.87 apiece. That’s a 171% increase over a year. Could it be on its way towards the $700,000 predicted by Adam Back (Blockstream) after the halving?