Grayscale, a16z, the Crypto Innovation Council (CCI), and other crypto industry players urged the US Securities and Exchange Commission (SEC) not to uniformly regulate new types of exchange-traded products, but to review them individually. According to Cointelegraph, they argued that crypto-based products should not be simply classified as 'new products,' leading to additional regulations or launch delays. They also opposed the automatic classification of products holding non-security assets as subject to the Investment Company Act. Instead, they proposed improving the approval process by clarifying review periods and introducing pre-filing private consultation procedures.
