During an interview with the CNBC, the SEC Chairman talked about Bitcoin, Initial Coin Offerings and Bitcoin ETF.
Jay Clayton said that “Bitcoin is not a security” hence it does not fall in the securities law of the United States. SEC may be doubling down on the earlier statements about Bitcoin but the affirmation is nice.
Most ICO’s are securities
According to the SEC, Most of the Initial Coin Offerings are securities and that there is no ICO yet registered with the SEC so If you want to launch a security then you need to register with the SEC or do a private placement for credit investors or just stay out of the United States altogether.
Jay Clayton said that he will not comment on the timing of the Bitcoin ETF approval yet but he mentioned that the SEC has been clear about some of the issues that need to be cleared out before any Bitcoin ETF gets approved. Some of these issues are mentioned by Jay are trading in bitcoin, a reliable price information on trading markets and custody so the people who hold those assets can count on those assets to be there, in the same way, you can with other assets that underline ETF.
Financial institutions are predicting that the SEC may anytime soon approve Bitcoin ETF but no one is specific about when.