The regulatory landscape surrounding Bitcoin is undergoing rapid change as many await a Bitcoin Spot Exchange-Traded Fund (ETF) to be approved by the United States Securities and Exchange Commission (SEC). Recent developments hint at a possible shift in the SEC’s view of Bitcoin, potentially classifying it as a security. This move has rattled the Bitcoin community and legal experts alike, including prominent digital assets attorney John Deaton.

SEC’s Evolving Stance and BlackRock’s Filing

The SEC’s stance on Bitcoin’s classification has been a point of contention. Despite previous assertions from SEC officials, including Chairman Gary Gensler, that Bitcoin is…

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