Former SEC Chair Jay Clayton acknowledged the challenges of regulating crypto during an interview with CNBC. He mentioned that the SEC had to intervene to regulate non-compliant crypto offerings when it entered retail markets. Clayton stated that the SEC now faces the challenge of distinguishing between securities and non-securities offerings in the crypto space. He also expressed the belief that the approval of a Bitcoin ETF is inevitable and that the SEC may be shifting its assessment due to large institutions claiming cash trading in Bitcoin is not manipulable. The Bitcoin price exceeded $30,000 for the first time since July 23, possibly due to optimism surrounding the approval of a Bitcoin ETF by the SEC. According to J.P. Morgan, the approval is expected to happen within months.
AI Sentiment: Neutral