The US regulator hints that Bitcoin-ETF cannot be approved soon due to weak investor protection. Speaking at a conference in New York, Jay Clayton, head of the Securities and Exchange Commission, expressed concern that the cryptocurrency market is very vulnerable and there are too many acts of fraud, manipulation and cyber theft.
Clayton stated the following:
Investor expectations are that the commodity underlying ETF trading must be free from risk and manipulation. Unfortunately, such guarantees are absent in the cryptocurrency market.
It is worth noting that the SEC rejected several applications for Bitcoin-ETF and postponed the final decision on the VanEck ETF proposal. It is currently expected that the verdict will be announced by December 29th. Commission staff are concerned about potential price manipulations in the unregulated digital asset market.
Meanwhile, today the cryptocurrency market is in recovery mode. All the top 10 coins show an increase from 2% to 13%, with the exception of Bitcoin SV, which decreased by 13% compared to the beginning of the week. BTC / USD hovers around $ 4,000; ETH / USD about $ 114; XRP / USD failed to return the level of $ 0.38 and fell to $ 0.37.
And what do you think about this?
