SEC Chairman Jay Clayton spoke at the Squawk Box program at CNBC, where he presented current views on Bitcoin . Speaking about the obvious resistance of the SEC in providing regulatory clarity on BTC, Clayton noted that there are not many things in which the SEC first of all needs to "feel comfortable."
Here, Clayton noted that the Commission perceives cryptocurrencies more as stocks than currencies. At the same time, he focused on the fact that retail investors may be misled, considering that Bitcoin is being traded as a stock or a bond.
“We have developed rules and control tools to resist stock market manipulation. But in the cryptocurrency market, by and large, this is not the case, ”he said, stressing that we are talking about cryptocurrency, and not“ tokens that are securities. ”
The head of the SEC assured his interlocutors that his department was dealing with the issue of Bitcoin-ETF , but the “pair of problems” still does not allow him to give the green light to relevant initiatives.
The first is storage.
“Storage is an established requirement in our markets. If you say that you have something, then it should be so , ”explained Clayton.
The second issue is related to the application of rules in the financial industry to the cryptocurrency market.
"We are working hard on this, but I am not going to click the switch and say that cryptocurrency is the same securities and bonds, because it is not so," he added.
In April, Clayton mentioned the regulation of cryptocurrency among the main activities of his department.
At the end of May, the SEC once again postponed a decision on the application for launching Bitcoin-ETF of VanEck, which is considered one of the most promising.
Publication date 07/06/2019
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