Brian Daly: SEC Admits Oversight in Cryptocurrency ETF Approvals and Will Establish a More Orderly Review Mechanism
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Brian Daly, Director of the SEC Investment Management Division in the United States, stated on the Trillions program that the SEC acknowledges past poor handling of cryptocurrency ETF approvals, which has damaged industry trust. The SEC is working to establish a more orderly, asset-neutral approval process to address around 200 ETF applications each month, including innovative products such as prediction markets. Brian Daly emphasized that the SEC supports financial innovation while protecting investors and is considering introducing a confidential filing mechanism to prevent product ideas from being quickly copied.
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