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<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/e6f8e6befdb046da9beace62c021beed.jpg" />In a recent <a href="https://www.youtube.com/watch?v&#61;Zf0iSEK-RDI" rel="noopener noreferrer nofollow">CNBC interview</a>, former SEC chair Jay Clayton made a compelling case for approving a Bitcoin exchange-traded fund (ETF) in the United States. Clayton&#39;s perspective offers a pragmatic outlook on cryptocurrency regulations and Bitcoin ETFs.Clayton acknowledged the SEC&#39;s cautious approach to crypto regulation, emphasizing the agency&#39;s commitment to investor protection. Initially, cryptocurrencies posed challenges to securities regulators, with many initial coin offerings (ICOs) failing to comply with securities laws. However, the industry has matured and now presents digital assets with genuine potential.Importantly, Clayton emphasized that Bitcoin is not a security, resolving a major debate over Bitcoin ETFs. This distinction confirms that Bitcoin operates outside traditional securities frameworks, removing a key obstacle to a spot Bitcoin ETF&#39;s approval.Clayton argued for the inevitability of approving a spot Bitcoin ETF, citing the incongruity between futures and spot products. The success of Bitcoin futures ETFs shows a strong demand for diversified Bitcoin exposure. The SEC&#39;s approval of these futures-based products paves the way for comprehensive Bitcoin ETFs.Additionally, Clayton highlighted participation from large institutions and surveillance-sharing mechanisms for potential spot Bitcoin ETFs, which are critical for market integrity and investor protection. This shows the industry&#39;s commitment to addressing regulatory concerns.Clayton&#39;s viewpoint aligns with market sentiment and experts&#39; views. As Anthony Pompliano noted, approval of a spot Bitcoin ETF is a matter of when, not if.Jay Clayton&#39;s perspective on Bitcoin ETFs offers a rational assessment of the regulatory landscape. His recognition of changing dynamics in the cryptocurrency space, coupled with his belief in the inevitability of approval, provides hope to investors and enthusiasts.With groundwork from Bitcoin futures ETFs and industry commitment to robust surveillance and compliance, a spot Bitcoin ETF could soon become a reality, expanding opportunities for investors and legitimizing the cryptocurrency market.Catch up on our published articles for the week!NEWS● HashKey Launches Altcoin-Focused Liquid Fund to “Outperform Bitcoin” &gt;&gt;&gt;<a href="https://defi-planet.com/2023/09/hashkey-launches-altcoin-focused-liquid-fund-to-outperform-bitcoin/" rel="noopener noreferrer nofollow"> Read more</a>.●  Bitwise Withdraws ETF Application As U.S. SEC Delays Decision on Pending Applications &gt;&gt;&gt;<a href="https://defi-planet.com/2023/09/bitwise-withdraws-etf-application-as-u-s-sec-delays-decision-on-pending-applications/" rel="noopener noreferrer nofollow"> Read more</a>.●  Binance Confirms Phasing Out Support for BUSD in 2024, Offers Alternatives for Users &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/binance-confirms-phasing-out-support-for-busd-in-2024-offers-alternatives-for-users/" rel="noopener noreferrer nofollow"> Read more</a>.●  Judge Sets September 7 Deadline for Sam Bankman-Fried’s Trial Jury Request &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/judge-sets-september-7-deadline-for-sam-bankman-frieds-trial-jury-request/" rel="noopener noreferrer nofollow"> Read more</a>.●  Grayscale Scores Major Victory Over SEC As Court Rules in Favour of GBTC’s Path to Becoming a Public Bitcoin ETF &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/grayscale-scores-major-victory-over-sec-as-court-rules-in-favour-of-gbtcs-path-to-becoming-a-public-bitcoin-etf/" rel="noopener noreferrer nofollow"> Read more</a>.●  Binance Launches “Send Cash” to Strengthen Presence in Latin America &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/binance-launches-send-cash-to-strengthen-presence-in-latin-america/" rel="noopener noreferrer nofollow"> Read more</a>.●  X (Formerly Twitter) Obtains Currency Transmitter License in Another U.S. State, Increases Tally to Seven &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/x-formerly-twitter-obtains-currency-transmitter-license-in-another-u-s-state-increases-tally-to-seven/" rel="noopener noreferrer nofollow"> Read more</a>.●  DCG’s Genesis in Talks with Creditors to Deliver Up to 90% Recovery on Debt &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/dcgs-genesis-in-talks-with-creditors-to-deliver-up-to-90-recovery-on-debt/" rel="noopener noreferrer nofollow"> Read more</a>.●  Binance to Cease Offering 36 Liquidity Pools &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/binance-to-cease-offering-36-liquidity-pools/" rel="noopener noreferrer nofollow"> Read more</a>.ARTICLES●  Crypto Crackdown: Is The US Government Killing Innovation In The Digital Age? &gt;&gt;&gt;<a href="https://defi-planet.com/2023/09/crypto-crackdown-is-the-us-government-killing-innovation-in-the-digital-age/" rel="noopener noreferrer nofollow"> Learn more.</a>●  How to Choose the Best Crypto Off-ramp Platforms &gt;&gt;&gt;<a href="https://defi-planet.com/2023/09/how-to-choose-the-best-crypto-off-ramp-platforms/" rel="noopener noreferrer nofollow"> Learn more.</a>●  The Top Crypto VCs In 2023 &gt;&gt;&gt;<a href="https://defi-planet.com/2023/09/the-top-crypto-vcs-in-2023/" rel="noopener noreferrer nofollow"> Learn more</a>.●  Customer Empowerment or Breach of Trust? Analyzing Patricia’s Asset Conversion Controversy &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/customer-empowerment-or-breach-of-trust-analyzing-patricias-asset-conversion-controversy/" rel="noopener noreferrer nofollow"> Learn more</a>.●  Comparing Layer 2 Solutions: StarkEx vs Starknet vs Arbitrum vs Optimism vs zkSync vs Polygon &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/comparing-layer-2-solutions-starkex-vs-starknet-vs-arbitrum-vs-optimism-vs-zksync-vs-polygon/" rel="noopener noreferrer nofollow"> Learn more.</a>●  State of the Metaverse in 2023 &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/state-of-the-metaverse-in-2023/" rel="noopener noreferrer nofollow"> Learn more.</a>●  Bitcoin ETFs: Why Is The SEC Bouncing Applications? &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/bitcoin-etfs-why-is-the-sec-bouncing-applications/" rel="noopener noreferrer nofollow"> Learn more</a>.●  5 Outstanding Benefits of DeFi Exchange Development for Startups &gt;&gt;&gt;<a href="https://defi-planet.com/2023/08/5-outstanding-benefits-of-defi-exchange-development-for-startups/" rel="noopener noreferrer nofollow"> Learn more</a>.<h4>ICYMI…</h4>ETFs, Volatility, and Hope: Reviewing Another Crazy Week In CryptoFormer FTX CEO Sam Bankman-Fried and his legal team are facing a deluge of discovery documents from the U.S. government, totalling 4 million pages. Bankman-Fried&#39;s attorneys have argued that this information avalanche hinders their client&#39;s ability to adequately prepare for his case.U.S. prosecutors recently released a substantial volume of discovery documents, raising concerns from Bankman-Fried&#39;s lawyers. In a court filing, they objected to the government&#39;s approach of granting access to these materials while Bankman-Fried is held at the Metropolitan Detention Center.The lawyers stressed the challenge posed by the sheer amount of information, noting that &#34;the Government&#39;s recent release of an additional 4 million pages of discovery just yesterday&#34; is unreasonable given the trial&#39;s proximity.The legal team further highlighted that Bankman-Fried&#39;s involvement in the case is vital due to his deep understanding of the companies involved and his efficient document location skills. Despite having a laptop, his limited internet access hampers collaboration with his legal team and access to prior work.With Bankman-Fried&#39;s trial approaching, his lawyers are urging for his temporary release, allowing him to work closely with his defence team and access the internet for five days a week in a dedicated courthouse workspace. These requests for release conditions have been advocated since at least August 18th.Spotlight on interesting projectsTezoro<a href="https://tezoro.io/" rel="noopener noreferrer nofollow">Tezoro</a> is a non-custodial service that allows you to reduce the risk of losing your crypto by ~100 times by creating a backup: a smart contract that can withdraw crypto from your wallet and transfer it to a backup address even if you&#39;ve already lost access to your wallet or died.Tezoro is a non-custodial service. It helps you to prepare your backup, and you confirm it via your MetaMask and deploy it directly to the blockchain.Nobody, including Tezoro, can change the amount or replace the backup address. The only thing you allow it to do is initiate the transfer at the moment you need it.For more information, visit <a href="https://tezoro.io/" rel="noopener noreferrer nofollow">https://tezoro.io/</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/bf9b819b9369415d9fee9eb9ce49b082.jpeg" />If you want more content like this, visit <a href="https://defi-planet.com/" rel="noopener noreferrer nofollow">DeFi Planet</a> and follow us on <a href="https://twitter.com/PlanetDefi" rel="noopener noreferrer nofollow">Twitter</a>, <a href="https://www.linkedin.com/company/defi-planet/" rel="noopener noreferrer nofollow">LinkedIn</a>, <a href="https://www.facebook.com/DeFi-Planet-129907662611402" rel="noopener noreferrer nofollow">Facebook</a>, <a href="https://www.instagram.com/defi.planet/" rel="noopener noreferrer nofollow">Instagram</a>, <a href="https://medium.com/&#64;defi-planet" rel="noopener noreferrer nofollow">Medium</a>. and <a href="https://coinmarketcap.com/community/profile/DeFiPlanet/" rel="noopener noreferrer nofollow">CoinMarketCap Community</a>.

Weekly Round-Up #65 | Jay Clayton's Case for Bitcoin Spot ETFs 💱₿

DeFi Planet

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