Jay Clayton: New Market Protections Needed
During an interview with CNBC, U.S. SEC Chairman Jay Clayton talked about cryptocurrencies and crypto market protections.
He mentioned that the SEC needs to be convenient to keep crypto-assets and make sure that in the market will not occur any manipulation before approving a crypto exchange-traded fund.
Clayton also added that the regulator is presently working on releasing ETF based on crypto-assets in the United States. However, he underlined that before approving a crypto ETF, still there are different problems that should be resolved.
Are you stifling innovation in the broker dealer space? @kevinolearytv asks SEC Chairman Jay Clayton pic.twitter.com/fA7WBOfgm9
— Squawk Box (@SquawkCNBC) June 6, 2019
Another significant issue for the SEC is that there are no robust preventative measures for market manipulation. Discussing this question, Clayton noted that they have sophisticated rules & monitoring to make sure no one is manipulating the stock market and crypto markets don’t have that.
SEC Chairman Jay Clayton on #Crypto:
“We have sophisticated rules & surveillance to ensure that people are not manipulating the stock market. Those cryptocurrency markets by and large do not have that.” pic.twitter.com/1iGryAiSob
— Squawk Box (@SquawkCNBC) June 6, 2019
