On Monday, the Securities Exchange Commission's (SEC) trading and markets division notified exchanges that they would approve 19b-4 this week, a change from their position two weeks ago, according to sources, who said the issuer in charge of the S-1 contacted the SEC, but the SEC's company finance division's reviewers appeared to disagree with the agency's trading and markets division.
Notably, the SEC's trading and markets division is responsible for reviewing 19b-4s, while the agency's corporate finance division is responsible for S-1s. "They haven't even done internal co-ordination yet, which is why it's most likely a political decision", said one person familiar with the matter. The source said they wouldn't be surprised if it became a campaign issue. "What they've done with the SEC is equivalent to writing term papers the night before the deadline", the source said of the agency's work on retracting 19b-4s comments.
Sources: Disagreement within the SEC indicates that the shift in the spot Ethereum ETF is "entirely political"
2024-05-21 21:04:20
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