Chairman of the United States Securities and Exchange Commission (SEC) Clayton is still worried about investor protection, when it comes to commissioning the Bitcoin (BTC) exchange-traded fund (ETF) commission. The SEC Chairman talked about Crypto on March 14 in an interview with Fox Business.
In the interview, Clayton claimed to be neutral towards digital currencies, saying that he is not a spokesman against property. SEC Chairman explained that he is worried about the capacity to manipulate the space, and the investor wants to guarantee 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 refused to comment on any specific Bitcoin ETF application, he still noted that “there can be a case where a bitcoin ETF can fulfill our rules.”
“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 announced that it will soon start the countdown period for approving or rejecting VanEck / SolidX Bitcoin ETF. After withdrawing the ETF application due to the closure of the US government in late January, the Chicago Board Options Exchange (CBOE) presented the application again a week later.
At the beginning of this week, J. Clayton confirmed his previous statement that Ethereum (ETH) and similar kind of cryptocurrency are not securities under American law. However, Clayton said that he meant that the definition of a digital asset could change over time as a security.