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When requested whether or not Onramp would wish SEC approval to start out the redemptions and in that case why the regulator would approve the plan, Tanguma responded: “It doesn’t require formal approval as a result of bitcoin is a commodity as per the CFTC, not a safety. With that, Onramp does plan to work with securities legal professionals to get opinion letters in place to scale back the 12-month lock-up interval for redemptions, and can work with all regulators to verify Onramp stays compliant in all jurisdictions the place it provides its companies.”
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