The Crypto Times
Image default
Bitcoin Government News

Securities Commission Chief Says Progress Being Made Regarding Bitcoin ETF

The chairman of the US Securities and Exchange Commission (SEC) admits in a recent interview that progress has been made with regards to Bitcoin ETF but that there’s still work to be done.

Bob Pisani on the Topic

In an interview with Bob Pisani of CNBC, SEC head Jay Clayton talked about the commission’s current views on Bitcoin (BTC) exchange-traded funds (ETF). 

When asked if the people in the bitcoin industry have come close to satisfying his concerns, Clayton acknowledged that vital steps were taken to assuage the concerns regulators have with a Bitcoin ETF but added that there’s still “work left to be done.” 

Issues with Significant Manipulation

The SEC chairman also pointed out that their concerns were not trivial. He explained that as ETFs are being traded on exchange platforms that are largely unregulated, the SEC is wondering how they can be sure that prices aren’t open to “significant manipulation?” 

While Clayton admitted that progress is being made, he said that those difficult questions should still be answers before the SEC can be comfortable about the appropriateness of the product. 

Clayton’s latest comments are consistent with the concerns he raised before. He previously stated that the SEC was working to ensure American investors are given an opportunity with BTC ETFs. But he underlined the need for protection in regulated markets. He mentioned several aspects that the SEC should first be comfortable with, like custody. 

One cryptocurrency publication has noted that the industry is expecting the SEC to make a decision on two Bitcoin ETF proposals in the next few weeks.

Related posts

Bitmessage Creator Testifies against Craig Wright, Says Australian Presented Fake Documents

Viena Abdon

Poloniex Margin Lenders Lose $13.5 Million to Severe Price Crash

Viena Abdon

Cryptocurrency Startup Ledger Secures $2 Million Investment From Samsung

Viena Abdon

US Securities Commission Dismisses Bitwise Proposal to List Bitcoin ETF

Viena Abdon

eToro Survey Reveals 40% of Millennials Would Invest in Crypto If Recession Happens

Viena Abdon

Ripple’s Tech Incubator Xpring Invests in Flare Networks to Boost XRP Use Cases

Viena Abdon