United States SEC votes for streamlined application process

• It was recently announced by the securities and exchange commission that it would be streamlining the application process for investment companies which could potentially result in expedited crypto and blockchain companies operating in a significantly more efficient manner. 
• The announcement was made earlier this week by the commission as it said that it had voted to adopt rule amendments for an expedited review process under the investment company act. 

It was recently announced by the United States securities and exchange commission that it would be streamlining the application process for investment companies which could potentially result in expedited crypto and blockchain companies operating in a significantly more efficient manner. 

The announcement was made earlier this week on the 6th of June by the commission as it said that it had voted to adopt rule amendments for an expedited review process for companies under the investment company act. On top of this, the SEC referenced an updated informal procedure internally for any other applications that didn’t qualify for this process. 

These efficient changes made by the commission are expected to provide additional certainty and transparency in the application process. 

The chairman of the commission, Jay Clayton as at the following:

“The application process under the Investment Company Act is an important component of our regulatory structure. The changes approved today will modernize and streamline this process, resulting in improved transparency, reduced costs, and a more efficient use of our staff’s resources.”

This development is interesting given that the commission has been very hesitant in signing off bitcoin exchange traded funds (ETF). 

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!