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US SEC Official: Admits Crypto ETF Regulatory Mistakes, Will Establish a More Orderly Approval Mechanism

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ME News, July 3 (UTC+8), Brian Daly, head of the SEC's Investment Management Division, said on the "Trillions" program that the SEC acknowledges it "handled poorly" in the past regarding cryptocurrency ETF approvals, damaging industry trust. The SEC is now pushing to establish a more orderly and asset-neutral approval process to handle approximately 200 ETF applications per month, including innovative products like prediction markets. 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. (Source: PANews)
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