Congresswoman Violates STOCK Act With Late Trade Disclosures: Purchases Include Bitcoin ETF

PANews reported on October 8th that, according to The Block, Canary Capital filed an amended registration statement for its Canary HBAR ETF on Tuesday, disclosing key details. The fund will be listed under the ticker HBR and will have a 0.95% fee. The company is also developing a Litecoin ETF under the ticker LTCC, also with a 0.95% fee. Eric Balchunas, senior ETF analyst at Bloomberg, noted that these details are typically updated just before the "launch moment." He wrote on the X platform, "While the US government shutdown makes the final outcome anyone can predict, I think these documents are quite complete. While the 0.95% fee is high compared to spot Bitcoin ETFs, it's not uncommon for ETFs in new and increasingly niche sectors to have higher fees." Bloomberg Intelligence analyst James Seyffart expressed a similar sentiment: "It feels like the Litecoin and HBAR ETFs have reached the goal line and are on the verge of victory."

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According to CoinDesk, U.S. Securities and Exchange Commission (SEC) Chairman Paul Atkins stated at an event in Manhattan on October 8 that the agency still hopes to establish an "innovation exemption" policy for companies operating in the United States based on digital assets and other innovative technologies as soon as possible, perhaps by the end of this quarter. Although the current government shutdown has constrained the SEC's ability to advance rulemaking, developing this policy remains a top priority for the agency, scheduled for the end of this year or the first quarter of 2026. He stated that the agency intends to initiate rulemaking by the end of 2025 or the first quarter of 2026 and is confident of doing so. He added that formal rulemaking in the cryptocurrency sector would allow it to break free from the previous regulatory model. During a Q&A session, he stated that the exemption he is promoting is one of the items he hopes to finalize quickly, as a way to welcome innovators to the United States. He also noted that the government shutdown has hindered work and has halted rulemaking. He also praised Congress's efforts to pass cryptocurrency legislation, mentioning the GENIUS Act but stating that the SEC did not play a major role in it.