Key Takeaways
- The SEC has asked issuers to withdraw their 19b-4 ETF filings for Litecoin (LTC), XRP, Solana (SOL), Cardano (ADA), and Dogecoin (DOGE).
- New generic listing standards now eliminate the need for individual 19b-4 filings for each cryptocurrency ETF proposal.
The SEC has requested issuers to withdraw their 19b-4 ETF filings for Litecoin, XRP, Solana, Cardano, and Dogecoin following the agency’s approval of generic listing standards for crypto asset exchange-traded products.
The new generic listing standards eliminate the need for individual 19b-4 filings that were previously required for each cryptocurrency ETF proposal. The SEC designed these rules to provide a stable platform for crypto product introductions while including innovation exemptions to foster on-chain capital market development.
Financial firms that submitted specific ETF applications for these cryptocurrencies can now utilize the streamlined generic standards instead of pursuing individual regulatory approvals. The change aims to reduce regulatory hurdles and expedite market introductions for crypto ETFs.
The regulatory shift comes as the SEC prepares joint rulemaking with the CFTC to harmonize crypto regulations across agencies. The collaboration includes an upcoming joint roundtable focused on regulatory coordination for digital assets.
SEC Chair previously emphasized the importance of creating stable frameworks for crypto product launches, which directly supports this transition from case-by-case filings to standardized listing requirements for crypto asset ETPs.
Source: https://cryptobriefing.com/sec-withdrawal-ltc-xrp-sol-ada-doge-etfs/
