Bitcoin ETFs are shrouded in a “thin layer” of indirect regulations – CFTC chairman

CFTC chair Rostin Behnam declared that regulator THE species walk For digital assets has "Never has been more critical," following THE approval of place Bitcoin ETF.

THE chair of THE Raw materials Futures contracts And Trade Commission (CFTC), Rostin Behnam, believes there East A risk of investors misinterpretation THE recent approval of place Bitcoin exchange traded funds (AND F) as farm regulations In place For Bitcoin And other cryptocurrencies In general.

In A opening speech speech on Jan. 26, Behnam clarified there East A potential For investors has misunderstanding THE legal certainty For place Bitcoin ETFs, following THE United States Securities And Exchange Commissions (SECOND) decision has approve 11 apps on January 10.

While THE approval NOW allow investors has expose themselves has Bitcoin without directly holding THE active himself, supervised by A Regulated by the SEC action exchange, he argued there East No regulatory monitoring For THE species walk of digital assets, such as A crypto exchange.

"There remains Nothing firmly In place has address THE opaque And inconsistent practices In THE species markets For digital assets. »

Furthermore, Behnam explain that This has repercussions For THE transparency of Bitcoin ETFs, from active management companies acquire THE underlying assets For THE ETFs Since THE species market.

He raised concerns concerning trade regulation, Conflicts of interest, data reports, cyber security, customer protections, transparency, And general walk integrity.

"THE AND P to have taken A speculative And volatile active, envelope he In A thin layer of indirect regulation, And packed up he as A bright new product," he said

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