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Author Topic: SEC Chairman: ETFs suspended due to lack of collateral  (Read 301 times)


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SEC Chairman: ETFs suspended due to lack of collateral
« on: November 28, 2018, 09:45:45 PM »

The SEC chairman said on Tuesday concern over the lack of protection for investors makes it unlikely his agency would approve the fund for the start-up at any time.

At a conference in New York, Chairman Jay Clayton said he was still concerned that digital currency could be easily stolen or manipulated on stock exchanges. He said these issues must be addressed before the SEC allows ETFs to be approved, and in some of his more controversial comments on why the agency rejected recent requests for products
The Securities and Exchange Commission (SEC) has rejected a series of offers to list ETFs in recent months, smashing the hopes of supporters who see the release as a crucial step toward digital currency adoption and the promotion of large-scale investment. Agency staff expressed concern about the possible manipulation of the largely unregulated market.

The agency brought several enforcement cases to eliminate the market for initial currency support (ICO) operations, which Clayton said was full of fraud. William Henman, who heads the company's corporate financing unit, said earlier this month that the agency would issue additional guidance on when securities laws would apply to currencies and to digital currency trading rules.