SEC Chair Clayton: Crypto ETF Needs Exchanges ‘Free From Manipulation’

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.

“The prices retail investors are seeing are the prices they should rely on, and free from manipulation – not free from volatility, but free from manipulation,” Clayton said during his appearance, which was moderated by investor Glenn Hutchins.

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