The United States Securities and Exchange Commission (SEC) chairman Jay Clayton believes that investors lack of security, may hinder the bitcoin ETF approval.
“Consensus:Invest2018” in New York conference, the SEC (SEC) President JayClayton outlined the risk of bitcoin transactions, and investors may lack protection. And said, investors expected, ETF transaction is reasonable, there is no risk of manipulation, but in many digital currency transactions in the market, these protection measures do not exist.
SEC official also reiterated that the lack of reliable regulatory solutions, as well as the existence of encryption money behavior theft, caused many investors worried about.
This is why Hester Peirce, Commissioner against Winklevoss for bitcoin ETF at the time, she said overview: It prevents investors through exchange channels to obtain bitcoin, this can provide a convenient channel for predictability, transparency.
It is worth noting that, from then on, NASDAQ said, they can lead the fight against market manipulation of the struggle, but some exchange platform has adopted its market monitoring technology.
Stephen Palley and Lewis Cohen, a Wall Street veteran Caitlin Long commented on the investment conference, they expressed on legislative and regulatory issues of the overall market view.
Lewis Cohen said that one of the main problems is that the tension between the traditional financial system and monetary increasing encryption.
The group also discussed the so-called “mandatory rules”, namely the traditional Asset Management Co to third party hosting service management of the assets, it is unclear whether this applies to the encryption of money market.
To this end, Cohen made a seemingly correct conclusion, consistent with previous conclusions of director Pearce:
I think the president wants us to abide by the law, but we are still not sure what the law is.