SEC chair says he doesn't see bitcoin trading on a major exchange until it is 'better regulated'

From cnbc.com

Bitcoin will need stronger regulation before it’s traded on a major exchange and investors should be wary until that happens, Securities and Exchange Commission Chairman Jay Clayton said Thursday. The cryptocurrency, with a market cap of $177 billion, has seen a number of attempts to go mainstream, including efforts to launch exchange-traded funds that would give retail investors an easier path into the space. However, regulators have been reluctant amid violent price swings, a string of negative headlines involving fraud and a general level of skepticism about the stability of the crypto industry. Bitcoin last ... (full story)