United States SEC Chairman: Bitcoin Market Does Not Possess Sufficient Transparency For ETF Approval
CCN reported that the United States Securities Exchange Commission (SEC) Chairman Jay Clayton stated that Bitcoin ETFs cannot be approved yet as trading of the cryptocurrency in exchanges lacks adequate transparency.
Clayton told CNBC at the recent Consensus Invest Conference in New York:
"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."
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