Former SEC Chair Jay Clayton has weighed in on ongoing debate over Bitcoin ETFs, stating in recent interview that approval for spot Bitcoin Exchange-Traded Fund is 'inevitable'
The regulatory body faces challenges in managing an ever-evolving cryptocurrency landscape. In the interview, Clayton stressed the difficulty in navigating the lines between securities and nonsecurities within the crypto sector, especially considering past instances where companies sidestepped public regulation while conducting what amounted to public offerings in the crypto space.
Notably, Clayton pointed out that trusted financial providers who have fiduciary duties are keen on offering Bitcoin products to the retail public, which could potentially boost the level of adoption of the world's largest cryptocurrency. Large financial institutions are claiming the cash markets for Bitcoin are now robust enough to withstand manipulation, a shift that
acknowledges. With more deadlines for SEC decisions looming in mid-October, the coming weeks are shaping up to be a pivotal time for the cryptocurrency market and its regulatory landscape.Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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