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SINGAPORE, Nov 30 (Reuters) – The U.S. Securities and Alternate Fee has but to approve any spot bitcoin exchange-traded fund (ETF) listings thus far, the regulator’s commissioner Mark Uyeda mentioned on the sidelines of a discussion board in Singapore on Wednesday.
“We have had numerous functions … none of these have been permitted thus far,” mentioned Uyeda, who was in Singapore to talk on the ICI International Asset Administration Asia Discussion board.
Earlier this month, the SEC delayed a call on whether or not to permit a spot bitcoin ETF by stock-picker Cathie Wooden’s Ark Make investments and crypto funding product agency 21Shares US to listing and commerce on Cboe International Markets till Jan. 27.
The regulator has rejected over a dozen spot bitcoin ETF functions, and permitted a number of bitcoin futures-based ETFs. The rejections have centered on candidates’ lack of surveillance-sharing agreements with regulated markets referring to the spot funds’ underlying belongings.
Such agreements entail sharing commerce information and different data to permit the trade to detect manipulation.
Uyeda added that the SEC continues to think about functions filed by exchanges “as they arrive up”.
The previous few weeks have been turbulent for the cryptocurrency sector, after main trade FTXcollapsed, wiping billions in worth off the market.
“We’ve at all times had these considerations and so we proceed to think about these points we proceed to take enforcement actions”, he mentioned, when requested about how the regulators’ considering has shifted after the FTX collapse.
Reporting by Rae Wee and Ankur Banerjee; Enhancing by Amanda Cooper
Our Requirements: The Thomson Reuters Trust Principles.
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