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Former SEC Chair Predicts Inevitable Approval of US Bitcoin ETF as UK Crypto Travel Rule Takes Effect

Algoine News
Summary:
Former SEC chairman, Jay Clayton, believes that the approval of a spot Bitcoin ETF in the US is inevitable. Meanwhile, US regulators deny blocking AI chip exports to the Middle East, and the UK's crypto Travel Rule takes effect, potentially impacting certain crypto transfers. Stay updated with the latest developments in the world of cryptocurrency and technology.
Approval of a spot Bitcoin exchange-traded fund (ETF) in the United States is deemed "inevitable" by a former head of the Securities and Exchange Commission (SEC). Jay Clayton, in an interview with CNBC, stated that he anticipates progress in the approval of a Bitcoin ETF and believes that the dichotomy between futures and cash products cannot persist indefinitely. The SEC has previously rejected spot Bitcoin applications, citing concerns over market manipulation, and recently deferred its decision on seven such applications, including one from BlackRock.

Published At

9/1/2023 6:38:18 PM

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