When requested whether or not Onramp would wish Securities and Trade Fee approval to begin 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 [Commodity Futures Trading Commission], not a safety. With that, Onramp does plan to work with securities legal professionals to get opinion letters in place to cut back the 12-month lock-up interval for redemptions, and can work with all regulators to ensure Onramp stays compliant in all jurisdictions the place it affords its companies.”
