THELOGICALINDIAN - The arch of the US Securities and Exchange Commission Jay Clayton holds that the abridgement of safeguards for investors ability roadblock the approval of a Bitcoin ETF
The Same Old Song
Speaking at New York’s Consensus: Invest 2018, SEC’s Chairman Jay Clayton categorical the risks associated with Bitcoin trading and the declared abridgement of broker protection.
SEC’s arch additionally common on the abridgement of reliable aegis band-aid and the attendance of ambiguous cryptocurrency thefts. He said:
It’s absolutely those motives that Commissioner Hester Peirce dissented adjoin aback back the SEC beneath the Bitcoin ETF application of the Winklevoss twins. Aback then, she outlined:
It’s additionally account acquainted that back then, NASDAQ went out to say that they can lead the fight adjoin bazaar abetment and that there are barter platforms which are already adopting its bazaar surveillance technology.
They Want to Put Crypto in a Box
Commenting on the actualization of Chairman Clayton at the Consensus Invest appointment were attorneys Stephen Palley and Lewis Cohen, as able-bodied as Wall Street adept Caitlin Long who bidding their thoughts on the issues of custody, regulation, and the all-embracing bazaar legislation.
According to Lewis Cohen, one of the capital issues is that the ascent astriction amid acceptable banking arrangement and cryptocurrencies is that the above wants to put the closing in a “nice box” they can understand.
The console additionally discussed the alleged “custody rule” area acceptable asset managers accept to use third-party aegis casework for the assets beneath administration and that it’s cryptic whether this will administer to the cryptocurrency market.
To this end, Cohen fabricated a acutely spot-on cessation in band with Commissioner Peirce’s beforehand conclusions:
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