Brian Daly, Head of the Investment Management Division at the U.S. SEC, stated on the Trillions program that the SEC acknowledges its past shortcomings in reviewing crypto ETFs, which damaged industry trust. The SEC is now working to establish a more orderly, asset-neutral review process to handle approximately 200 ETF applications per month, including innovative products such as prediction markets. Brian Daly emphasized that the SEC supports financial innovation while protecting investors and is considering implementing a confidential filing mechanism to prevent product ideas from being rapidly copied.
SEC Admits Past Missteps in Crypto ETF Approvals, Aims for More Orderly Process
AiCoinShare
Summary
SEC news: Brian Daly, head of the SEC’s Investment Management Division, said on the Trillions show that the SEC acknowledged past missteps in handling crypto ETF approval announcements, which damaged trust in the industry. The agency is now working to establish a more orderly and asset-neutral process to manage approximately 200 monthly ETF applications. Daly noted that the SEC is considering confidential submission options to prevent idea copying while supporting innovation and investor protection.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.