Crypto industry urges SEC against blanket rules for new ETFs

Grayscale, Andreessen Horowitz and the Crypto Council for Innovation have urged the U.S. SEC not to regulate new types of exchange-traded products under a one-size-fits-all framework and instead review them on a case-by-case basis, Cointelegraph reported. They argued crypto-based products should not be classified simply as "new products" in ways that trigger additional regulation or delay launches, and also opposed automatically subjecting products holding non-securities assets to the Investment Company Act. Instead, they proposed improving the approval process by setting clearer review timelines and introducing procedures such as private pre-filing consultations.