Clayton\u2019s Crypto Involvement a Surprise For Many<\/h2>\n
Jay Clayton\u2019s tenure as the chief of SEC was seen as regressive by the crypto community as under his tenure SEC rejected all of Bitcoin ETF<\/a> proposals. Thus when he joined One River and the firm went onto the file for BTC ETF, it looked quite anti-climatic for many in the crypto universe.<\/p>\n
Clayton has also supported recent comments made by the current SEC chief on the crypto market regarding the security status of several cryptocurrencies. He also clarified that he understands the company he is joining might have several crypto assets that might qualify as a security.<\/p>\n
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\u201cI know that [Fireblocks CEO Michael Shaulov] and his colleagues are committed to regulatory compliance,\u201d he says. \u201cSo to the extent that the SEC determines that certain digital assets that are trading on platforms are in fact securities and should be regulated accordingly, I certainly understand that.\u201d<\/p>\n<\/blockquote>\n
He lauded SEC<\/a> for their work and explained that people working in the commission shouldn\u2019t be held grudges against as they have to go by certain rules and regulations. He explained,<\/p>\n
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\u201cWhat people have to understand is that the Commission\u2019s authority is defined by statute and promulgated regulations,\u201d Clayton adds. \u201cThe women and men of the Commission do an extremely good job in mapping those obligations to the advent of digital securities offerings and letting people know that digital securities offerings\u00a0<\/strong>and trading has to comply with the same rules as traditional paper based securities trading, which by the way, has in many functions become largely digital in and of itself.\u201d<\/p>\n<\/blockquote>\n
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Disclaimer<\/span><\/p>\n
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div>\n
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About Author<\/span><\/p>\n
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An engineering graduate, Prashant focuses on UK and Indian markets. As a crypto-journalist, his interests lie in blockchain technology adoption across emerging economies. <\/p>\n<\/p><\/div>\n
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