SEC Delays Solana Trust Approval as Big Players Flood Market With Buys
The United States Securities and Exchange Commission has postponed approving a proposed rule change that would allow the listing and trading of the Grayscale Solana Trust as a commodity-based trust. This development signals the regulator’s intention to conduct a more in-depth review before concluding.
Addressing the issue, SEC Assistant Secretary Sherry Haywood revealed that the commission has chosen to initiate proceedings to review the problems of the law and policy involved in the proposal.
She assured me that the fact that this process gets started makes no judgment of the application’s merits. As part of the proceedings, the SEC has asked for the written opinion of the public within 21 days, with rebuttals being sought for 35 days.
The decision coincides with more attention from institutional investors for Solana. Massive purchases in recent weeks indicate increasing confidence in the asset despite the uncertainty in regulation.
Please continue reading on ➯ (CryptosHeadlines.com) — It's a very important site for every crypto investors, Make sure to visit at least once ➯ (CryptosHeadlines.com)
