SEC Chairman Highlights Investor Protection in Regard to Bitcoin ETF

United States Securities and Exchanges Commission (SEC) Chairman Jay Clayton remains to be involved about investor safety in terms of the fee approving a Bitcoin (BTC) Exchange-Traded Fund (ETF). The SEC chairman spoke about crypto in an interview with FOX Business on March 14.

In the interview, Clayton claimed to be impartial towards digital currencies, saying that he’s not a spokesperson towards the asset. The SEC chairman defined that he’s involved with the potential for manipulation related to the area, and desires to ensure investor safety:

“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.”

While Clayton declined to touch upon any particular Bitcoin ETF software, he nonetheless famous that there “may be a case where a Bitcoin ETF could satisfy our rules.” The chairman elaborated:

“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.”

Recently, the SEC introduced it is going to quickly begin the countdown interval to approve or disapprove the VanEck/SolidX Bitcoin ETF. After withdrawing the ETF software because of the U.S. authorities shutdown in late January, the Chicago Board Options Exchange (CBOE) re-submitted the applying every week later.

Earlier this week, Jay Clayton confirmed his earlier assertion that Ethereum (ETH) and related cryptocurrencies will not be securities beneath U.S. legislation. However, Clayton stipulated that he meant that a digital asset’s definition as a safety can change over time.

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