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US SEC Chair: Approval of Bitcoin ETF Needs to Eliminate Manipulation Concerns First

Abstract : What I’m concerned about at the moment is if it can be reasonably demonstrated that the underlying trading is generally not manipulated, it’s happening on reliable venues with good rules and that custody is something we can feel comfortable about, said the SEC Chairman.

ChainDD
ChainDD

Mar 15

March 14 (ChainDD) In his interview with Fox Business News, Jay Clayton, Chairman of the U.S. Securities and Exchange Commission, said he didn’t oppose digital currency as an asset but have concerns about potential of market manipulation, and he wished ensure investor protection.

As to whether SEC will approve the first Bitcoin ETF in the coming months, Clayton responded by saying that:” What I’m concerned about at the moment is if it can be reasonably demonstrated that the underlying trading is generally not manipulated, it’s happening on reliable venues with good rules and that custody is something we can feel comfortable about.”

Clayton declined to comment on the Bitcoin ETFs that are under application for approval, but he noted there could be a Bitcoin ETF that may meet SEC’s rules.

“I think this technology has and is already demonstrating pretty significant promise, but it’s demonstrating significant promise in the places where it’s consistent with our approach to capital raising in the past,” he said.

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