The specialized working session dedicated to cryptocurrencies, with the participation of the US Securities and Exchange Commission (US SEC) and the Commodity Futures Trading Commission (CFTC) took place February 6. The statements of Jay Clayton and Christopher Giancarlo, the chairmen of the US SEC and the CFTC, have already been published online.
In a long statement, US SEC Chairman Jay Clayton recalls the need for ICO's differences with securities, and also points out that shortly the market will not be ready for the introduction of bitcoin ETF.
Investors should understand that at the moment there are no SEC-registered ICOs, and the SEC did not approve any exchange-traded cryptocurrency products (like ETF) for placement and trading. If someone today claims the opposite, this should alert the investor.
- states Clayton.
The alignment of the joint approach with the CFTC prepares the ground for even more thorough research and regulation of the cryptocurrency in the US market. Last month, during the World Environmental Forum in Davos, a joint article in the Wall Street Journal showed the views of the two leaders on regulatory issues. The forum also showed interest from politicians and regulators to joint international work. The central event of joint efforts will be the March G20 summit in Buenos Aires.
Information Source: Cointelegraph