https://www.coindesk.com/clayton-sec-ico-funding-security-offering
mentioned here, as well as xrp being a security/needing a lot of info lol
A quote from the interview:mentioned here, as well as xrp being a security/needing a lot of info lol
Jay Clayton, chairman of the U.S. Securities and Exchange Commission (SEC), said Tuesday that he doesn’t see a pathway to a cryptocurrency ETF approval until concerns over market manipulation are addressed.“How that [manipulation] issue gets addressed, I don’t have a particular path. But it needs to be addressed” before an ETF gets approved, Clayton remarked during CoinDesk’s Consensus: Invest conference.
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I don't know if Clayton is sincere or he is just hiding behind this 'manipulation' mantra.
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Finally, it seems that 2 commissioners are for ETF, and in Dec. one more will be replaced. Whatever the staff decides it will be up to him to determine the approval of the ETF.
LTB Network had an interview with commissioner Hester Pierce -- 'crypto mom' in some circles for dissenting on the last ETF vote -- this week. Some considerations:
- Pierce believes it is outside the commission's purview to deal with the underlying asset's (e.g., Bitcoin) properties. She thinks the legislative mandate goes only to the regulated product (e.g., the ETF) itself. If her view is accurate, the commission's refusal [here I am extrapolating] may be extra-constitutional. As in... verboten.
- She recognizes her view may be a minority opinion.
I believe Clayton may indeed be hiding behind his manipulation mantra.
No, the commission votes - need a majority to enact a ruling. The chair sets the agenda, and is more influential than the others, but he is merely one of five votes in formal action.