SEC Chairman Answered Questions Concerning the Regulation of the Crypto Industry

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Appearing on CNBC’s “Squawk Box”, SEC Chairman Jay CLAYTON commented on concerns about the creation of a clear regulatory framework for cryptocurrencies. Image courtesy of CCN.com Read the best crypto news analysis here! bitnewstoday.com Bitcoin, investments, regulation and other cryptocurrencies Found a mistake? Such a framework would help legitimize Bitcoin and the altcoins that are populating global blockchain-based digital economy. With approval from federal regulators, Wall Street could theoretically develop more financial products, such as exchange-traded funds, driving more interest, expansion, liquidity, and adoption. Custody is a long-standing requirement in our markets.

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Appearing on CNBC’s “Squawk Box”, SEC Chairman Jay CLAYTON commented on concerns about the creation of a clear regulatory framework for cryptocurrencies. Such a framework would help legitimize Bitcoin and the altcoins that are populating global blockchain-based digital economy. To date, the Commission has rejected a number of Bitcoin ETF proposals by VanEck, Gemini and Bitwise, with critics accusing the SEC of being too cumbersome thus causing talent to flee the US in search of crypto-friendly environment. Clayton provided several answers about ETF as well:

“We’re engaging on this but there are a couple of things about it that we need to feel comfortable with. The first is custody. Custody is a long-standing requirement in our markets. If you say you have something, you really have it.”
11.02.2019  |   in Legislation SEC...

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