By Jay Clayton, the president of the united states Securities and Exchange Commission (SEC), is that trading in Bitcoin is still a hurdle must be overcome before bitcoin ETF a reality.
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SEC on bitcoin
He said that the bitcoinhandel a stricter and more robust regulations needed to be in order to be eligible for an ETF.
An ETF can be described as a publicly-listed fund in which the investor’s share in the purchase.
The attitude of Clayton in relation to bitcoin, is in a positive changed. If he wants to be that retail investors in a safe and secure place to be able to trade in bitcoin and other cryptovaluta.
That’s one of the reasons that the SEC is calling for better rules and regulations.
Bitcoin has a market cap of $177 billion, and it is described as still a very young asset, compared with securities and precious metals as well.
In the meantime, there is around bitcoin and the cryptovaluta a veritable industry has grown, and its stock exchanges like Coinbase, Kraken, and Bitstamp just been regulated in the united states.
Recently, he also made a Binance its presence in the U.s. market.
Clayton is keen to see the retail investor to have a clear plan on how the safe act.
The negativity about Bitcoin
Policy-makers have made a number of objections to the current bitcoinhandel. So, essentially, the researchers of the Bitwise previously been manipulated on the market.
In addition, it helps with the high volatility of prices on the stock markets, it does not. Frequently, the market was shocked by the hack, in which funds are taken are of.
This leads on the one hand, to the restraint of these assets will have to be regulated, too, by the realization that bitcoin is morrelt of the monetary system and the financial system.
At the same time, a fall cryptobeurzen throughout the world in the international standards of the FATF. Is cryptobrokers and walletaanbieders by January 2020, are also covered under the Act on the prevention of money laundering and the financing of terrorism.
SEC chairman Clayton said at the Delivering Alpha conference:
“When (investors) think that bitcoin is of the same severity as the” price discovery in the Nasdaq or the New York Stock Exchange, they are mistaken badly. Commitment is a more stringent regulation to bitcoin before we can trust it not.
Jay Clayton, chairman of the SEC
Currently, Wall Street is not the separate bitcoin exchange to open, and will remain, the offer is limited to the bitcoin futures contracts. As will soon be Bakkt its doors to the public.
This week, the CME announced that they will be in the first quarter of 2020 are also options on bitcoin futures markets are going to provide.
ETF requests, VanEck, and the Bitwise
Last week, VanEck known as the application for a Bitcoin ETF has been completed. The decision on the proposal had already been pushed back several times due to the SEC’s delayed.
The beurswaakhond, 13 October, however, a final decision on the current application of the Bitwise.
ETF stands for “exchange traded fund”. It is described as an indextracker, which, if accurate, the price of an underlying product will follow. As a gold, but it can also be applied to the price of a single bitcoin (BTC).
One of the advantages of an ETF is speculation, as is possible, without ‘physical’ bitcoin-to-own.
Source: Cryptonewz
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