Celsius freezes accounts, SEC Commissioner wants bitcoin spot ETF and Spanish airline to accept crypto
SEC Commissioner: regulatory agency should ‘stop denying’ spot Bitcoin ETFs
Hester Peirce, a commissioner at the Securities and Exchange Commission (SEC), recently published remarks on the regulatory agency’s failure to allow spot bitcoin exchange-traded funds (ETFs) in the U.S.
“It is time for the Commission to stop denying categorically spot crypto exchange-traded products. The Commission’s resistance to a spot bitcoin ETP is becoming almost legendary.”
One of the largest vocal contenders for the launch of such a product is Grayscale Investment LLC, which has been trying to convert its $13.8 billion Grayscale Bitcoin Trust (GBTC) into an ETF since April 2021.
The company submitted its formal application in October 2021, and has since battled the harsh, untraversed waters of spot bitcoin ETF regulatory approval in the U.S.
Market crashes while Celsius freezes accounts
The cryptocurrency market crashed last Monday after major U.S. cryptocurrency lending company Celsius Network froze withdrawals and transfers citing “extreme” market conditions. Currently, the price of bitcon hovers around $21.000, after dropping 30% in a week.
The Celsius move triggered a slide across cryptocurrencies, with their value dropping below $1 trillion on Monday for the first time since January 2021, sparking worries the rout might spill over into other assets or hit other companies.
The New Jersey-based Celsius has over $11 billion assets in custody. However, customers , are not able to withdraw money from the lending platform.
Spanish Airline to accept bitcoin and altcoins
Vueling, a Spanish airline belonging to the International Consolidated Airlines Group (IAG), has partnered with one of the largest bitcoin payment infrastructure providers, BitPay, to accept bitcoin as payment, per a press release.
“With this agreement, Vueling once again reaffirms its position as a digital airline,” said Jesús Monzó, manager of distribution strategy and alliances at Vueling, per the release. “We are very pleased to have found in BitPay the best partner to offer our customers the possibility of making transactions with cryptocurrencies with the greatest security and reliability”.