SEC: The lack of market surveillance is an obstacle to Bitcoin ETFs

Discussion in 'ETFs' started by mlawson71, Dec 6, 2018.

  1. The lack investor protection hinders the approval of Bitcoin exchange-traded funds (ETFs) saidthe Securities and Exchange Commission (SEC) chairman Jay Clayton.

    The main concern for Chairaman Claiton remains the fact that cryptocurrencies can still be too easily stolen or manipulated on the so called crypto exchanges. The remarks were made at the Consensus Invest Conference in Manhattan, New York. He added that the problem has to be resolved before SEC would make any move to allow the first Bitcoin ETFs.

    “What investors expect is that trading in the commodity that underlies that ETF makes sense and is free from the risk of manipulation,” Clayton said, adding that such “kinds of safeguards do not exist currently in all of the exchange venues where digital currencies trade… It’s an issue that needs to be addressed before I would be comfortable.”
     
    murray t turtle likes this.
  2. Here4money

    Here4money

    Sounds like they want to regulate crypto exchanges. Well if anything was going to kill crypto, it was regulation.
     
    murray t turtle likes this.
  3. Not only manipulation, but outright THEFT!
     
    murray t turtle likes this.
  4. %%
    Nothing hurts a con/bitcon like regulators.
    We paid, was it $5 or 10 to see a con, but we knew it was a con -''The Sting movie'' And they disclosed it was con:caution::caution:
     
  5. Why do they need an ETF? If you dont want regulation dont go after an ETF. If you want to pump the price through an ETF expect regulation. You cant have it both ways
     
    schweiz and Pekelo like this.
  6. I don't think anything can eliminate cryptocurrencies. China banned them and but people are still mining them.
     
  7. Pekelo

    Pekelo

    It is the HFs who want it not the cryptofans. Most HFs can't invest directly in cryptos, so ETFs would be their way of entering this market, thus the push...
     
  8. Here4money

    Here4money

    Can't completely disagree there