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The SEC will not support the ETF until market manipulation is addressed to: Jay Clayton



The Securities and Exchange Commission (SEC) has not given green light to any ETF applied by various players, including the Winklevoss Twins, but the SEC's Chair Jay Clayton recently spoke about the digital currency in an ETF interview with CNBC.

Referring to concerns about market manipulation, security and centralization, Jay Clayton said he expects the market to have "better surveillance and storage services" before actually agreeing to the Bitcoin ETF.

This is an issue that needs to be addressed before I'm comfortable. "Clayton told Consensus Invest in Manhattan."

Speaking with the CNBC, he showed great concern about investors' interest and said that the cryptographic market has no monitoring tools. It does not have security tools, as stock exchanges work to prevent malicious and manipulative actions. He does not consider it worthwhile for investors to judge the bitcoin price fairly.

Clayton noted that, in addressing potential issues with the ETF,

"What investors expect the sale of commodities based on the ETF's reasonable and risk free manipulation"

However, the delay is not surprising, but it would be a daunting point for cryptographic enthusiasts who have been waiting for the ETF to go to the core. Speaking at a conference, Clayton mentioned Nasdaq and NYSE, where "surveillance is a big problem." He said;

The New York Stock Exchange and Nasdaq are so-called "oversight" or systems that monitor, delay, and investigate abusive and manipulative activities on stock exchanges. "Such guarantees are not currently available at all exchanges where the trading of digital currencies occurs."

Clayton wants to ensure that if the ETF is approved, its underlying asset should be provided with better custody and extensive oversight. Clayton noted Glenn Hutchins, Silver Lake Partners, who moderated the commission

"We have seen some thefts in the battle for digital assets that make you scratch your head," continuing, "We are confident that the underlying assets of the ETF are well-defended and that they will not go away."

In short, the overall discussion highlighted two topics – a better way to stop the ICOs and deal with security issues before the EIF was approved. He said that the ICO should always be considered a security. He continues;

"If you finance the risk with a symbolic offer," you should start with the assumption that you start with the offer of securities "

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SEC Jay Clayton will not support the ETF until market manipulation

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SEC Jay Clayton will not support the ETF until market manipulation

Description

The Securities and Exchange Commission has not been given green light to any ETF applied by various players, including the Winklevoss Twins, but the chairman of the SEC Commission Jay Clayton recently spoke about the digital currency in an ETF interview with CNBC.

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Tabassum

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Coinape

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The submitted content may include the author's personal opinion and is subject to market conditions. Do your market research before investing in cryptoculture. The author or publication does not assume any liability for your personal financial loss.





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