SEC Chair Needs Basic Changes Before Crypto ETF Approval

[Goodcat49]

Regardless of the unswerving rejections of Exchange-Traded Fund (ETF) applications set forth up to the present time, optimism is still high amongst some cryptocurrency users, that the imminent ETF decision may eventually be the one that is approved. That was until Jay Clayton, the U.S. Securities and Exchange Commission (SEC) chairman reassured those hopes again when he presented in a speech at Coindesk’s Consensus Invest Conference in New York.

According to CNBC, Clayton articulated his interests within the area that would require to be addressed before he would be contented approving any digital currency ETF. He said:   

“What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation,” … “It’s an issue that needs to be addressed before I would be comfortable.”   

Surveillance Stops Crypto Users from Teaming Up   
Chairman Clayton articulated his misgivings about the lack of market reconnaissance, largely because several crypto exchanges don’t share the same monitoring tools, implying crypto investors may not find a real valuation of Bitcoin’s price.   

Gemini, the Winklevoss twins’ exchange, is one of those attempting to meet the required standards and become a safer way for cryptocurrency investors to get engaged with virtual assets. Hitherto even after partnering with the Nasdaq to grant them access to these complex tools required their ETF was rejected by the U.S. SEC.   

It would propose then that irrespective of who brings an application an all-purpose tidying of the space and pulling to pieces of unregulated exchanges globally is highly required before any crypto ETF proposal can be approved and accepted by SEC.   

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/sec-needs-changes/