Regulation

SEC Chair Explains Key Upgrades Needed for Bitcoin ETF Approval

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The chairman of the U.S. Securities and Exchange Commission (SEC) has outlined the key changes in cryptocurrency markets he needs to see before he is comfortable with a bitcoin ETF. While some solutions to the problems he mentioned have already been implemented, the chairman insists on seeing more improvements.

Key Upgrades Needed

At the Consensus Invest conference on Tuesday, SEC Chairman Jay Clayton explained what he needs to see before the SEC can consider approving its first bitcoin exchange-traded fund (ETF).

According to Cnbc, Clayton said he “needs to see key upgrades in cryptocurrency markets before approving a bitcoin ETF.” Specifically, the SEC chair “wants to see better market surveillance and custody for cryptocurrencies before being ‘comfortable’ with a bitcoin ETF,” the news outlet added.

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