According to AMBCrypto, Jay Clayton, the chairman of the United States Securities and Exchange Commission (SEC), testified before the Senate committee on several issues including blockchain technology and cryptocurrencies. Clayton said, "I am optimistic that the development of distributed ledger technology (DLT) will help promote capital formation and provide good investment opportunities for institutional investors and major investors." Clayton also said that he believes the SEC has taken A "prudent and active approach to regulation" was adopted to address issues such as innovation and capital formation while considering investors and markets. On Facebook's Libra, he said, "It's here, we shouldn't bypass it." Regarding exchange-traded funds (ETFs), and especially bitcoin ETFs, Clayton said the SEC has issued a new regulation for existing The regulations have been revised to modernize ETF supervision.