"BlackRock Definitely Has the Right Advisors for Bitcoin ETF": Legal Expert Dr Zvi Gabbay

<p>The Securities and Exchange Commission (SEC) has been reluctant on approving a spot Bitcoin exchange-traded fund (ETF), but according to Dr Zvi Gabbay, a partner and the head of the Capital Markets Department at the Barnea &amp; Co. law firm, giants like BlackRock must have "right advisors" to guide them with their spot Bitcoin ETF application.</p><p>In the second part of our discussion with Dr Gabbay, an expert in financial regulation and enforcement, we learn about differing crypto approaches in the EU, whether crypto firms are still willing to do business in the US, the need for bridges between the crypto industry and traditional finance, also touching on political influence and the likelihood of approval for spot Bitcoin ETFs.</p><p> In contrast to the United States, the EU has taken a markedly different approach and is implementing the newly created Market in Crypto Asset (MiCA) framework for crypto regulation, something that Dr Gabbay was keen to praise: “[The EU] did things in the right order. The learning process in developing <a href="https://www.financemagnates.com/tag/mica/" target="_blank" rel="follow">MiCA</a> is very impressive, and when you look at the work they did, the research, the interviews, talking to market participants, understanding the pitfalls, understanding the challenges; I think that's the right way to go about things. They're very analytical.”</p><blockquote><p lang="en" dir="ltr">The EU brings <a href="https://twitter.com/hashtag/CryptoAssets?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoAssets</a>, crypto-assets issuers and service providers under a regulatory framework.