Former SEC Chairman Jay Clayton recently appeared on a TV show to address the potential approval of Bitcoin Spot ETFs and discuss the recent hack of the SEC's official Twitter account.
In the hack that occurred yesterday, a false post was made regarding the approval of Bitcoin Spot ETFs, sparking widespread debate and speculation in the financial community.
Clayton explained that although the SEC's Twitter account was hacked, it should not affect the timeline for handling ETF applications.
Regarding the potential approval of a Bitcoin ETF, Clayton expressed its inevitability, citing unresolved legal and oversight questions surrounding the nature, trading and market surveillance of BTC. He said he believes a better understanding and explanation of the dynamics in the Bitcoin ecosystem supports a more regulated environment for digital assets.
Evaluating the impact of the attack, Clayton pointed out the importance of better cyber control in all sectors and stated that regulatory institutions should improve their communication strategies for the investor community, especially when it comes to disseminating information through social media.
*This is not investment advice.