Chairman of the US Securities and Exchange Commission (SEC) Jay Clayton said that bitcoin needs more regulation for listing on large exchanges. It is reported by CNBC.
“If investors believe that Bitcoin pricing is as strict as on the Nasdaq or the New York Stock Exchange, then they are very mistaken. We must get to the point where we are sure that trade is regulated correctly, ”he stressed.
We are talking about listing conditions for bitcoin itself, and not derivatives, such as CME futures.
Recall, Clayton said earlier that some progress on Bitcoin ETFs has been achieved. VanEck and SolidX have withdrawn their application. Jay Clayton, chairman of the US Securities and Exchange Commission (SEC), said stricter regulation is needed for bitcoin (BTC) to be traded on a large exchange.
On September 19, he made remarks at the Delivering Alpha conference. In his speech, Clayton urged investors to be cautious until Bitcoin obeyed the rules. Indeed, despite the fact that Bitcoin futures contracts are traded on the Chicago Mercantile Exchange, this does not apply to Bitcoin itself.
Many other attempts to launch exchange-traded funds for bitcoin (ETF) were rejected by regulators because of concerns about asset volatility and widespread fraud in space.
After another unsuccessful attempt to get approval for the Bitcoin ETF, the BZX exchange withdrew its offer from the SEC.