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The Securities and the United States Committee (SEC) has extended its deadline for redemption regarding two separate cryptocurrency trade funds (ETFS).

According to Wednesday’s SEC filingThe regulator will take more time to decide whether to allow redemption at Nyse on Nyse Arca for ETF Bitcoin Bitcoin (BTC) and Ether (ETH). The decision time has been extended, but the base limit remains “45 days, extended to no more than 90”.

“The Commission believes that it is appropriate to set a longer period in which you can take action on the proposed change in the principle so that it has enough time to consider the proposed change of the principle and the problems raised in it,” we read in the advertisement.

Redashing in the installation would allow investors to implement ETFs for base assets directly, in this case Bitcoin or Ether.

This may have tax consequences, because the assets will be purchased rather in the installation, and not liquidated for cash.

Notification of extension of the SEC. Source: Sec

Related: The American regulator is considering a simplified path to the ETF Crypto market

Sec accused of moving feet

This extension of the deadline is far from the first according to SEC, when it comes to cryptocurrency decisions. At the beginning of this month, the lawyers of the Grayscale digital asset manager pushed away from the delay of USA Sec Digital Enormous Cap.

SEC has previously approved the product, but the office of the secretary of the regulatory body soon decided to review the operation and stopped the decision. According to Grayscale lawyers, this violated “statutory approval or disapproval term” and opposed the established procedure.

Related: First, the ETF removed by the USA was launched on Wednesday, giving investors an exposure to Solan

Sec changes the approach to cryptocurrencies

Despite the ongoing conflicts, the majority agree that because Trump’s administration took power in Washington, and the chairman of SEC Paul Atkins took the position previously led by Gary Gensler, the position of the regulator against cryptography has changed significantly.

At the beginning of this month, ATKINS said that the regulator is now perceived by the tokenization as “innovation”, which should be encouraged on the market. He also emphasized how his approach differs from his predecessors, noting that SEC had previously made it challenging to innovation through unclear rights and “regulations by enforcing the law” before he added:

“This day is over.”

Atkins said that his purpose, when it comes to cryptographic principles, is regulatory transparency and establishing grounds that allow innovation and up-to-date products.

Warehouse: Referring Sec at cryptography leaves key questions unanswered