Friday, January 28, 2022
Home Crypto News Market Former U.S. SEC Chairman, Jay Clayton: "I Am A Huge Believer In...

Former U.S. SEC Chairman, Jay Clayton: “I Am A Huge Believer In Crypto Technology”

- Advertisement -

Former US SEC Chairman Jay Clayton said in a recent interview with CNBC that he is a big believer in crypto.


Jay was Chairman of the SEC during Donald Trump’s term when he was appointed by the former president and accepted by the federal senate in 2017.

Former SEC Chairman, Jay Clayton is a strong believer in cryptocurrency technology.

During his tenure in 2020, Jay always defended Bitcoin (BTC) as a store of value.

In an interview with CNBC’s Squawk Box this Wednesday the former Chairman said that he is a strong believer in cryptocurrency technology and highlighted the role of tokenization in the process of transforming and improving the financial system.

“I am a huge believer in this technology, The efficiency benefits in the financial system and otherwise from tokenization are immense.”

Jay Clayton was questioned that the current chairman of the SEC (Gary Gensler) is creating too many rules for the crypto sector. Jay replied that cryptocurrencies have many functions and are linked to many sectors, and SEC should be responsible for regulating only those sectors that relate to SEC.

“Crypto is a wide variety of products, with a wide variety of functions, and the rules of our financial system are clear and long-standing. If you are raising capital for a project, you have to register your capital raising with SEC. If you are trading securities it has to be on a registered venue, But there are many crypto sectors like stable coins that are not securities and outside of SEC purview.”


Jay is of the view that crypto adoption should be encouraged.

“Our Government should be reactive to people who are violating our clear laws but proactive in encouraging the adoption of this technology throughout our financial system. 

What is noteworthy is the fact that Jay did not allow the approval of a Bitcoin ETF during his term, which happened now in 2021, during Gary Gensler’s tenure.

The current SEC chairman Gary Gensler recently confirmed that the SEC has no intentions to ban crypto as China did, but he also shared his views that crypto without regulation is like Wild West, At The Moment Public Is Not As Protected As It Should Be.

- Advertisement -
Ammara Mubin is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Ammara authored more than 1,000 stories for TheCryptoBasic, CryptoComes and other fintech media outlets. She is particularly interested in regulatory trends around the globe that are shaping the future of digital assets.


Please enter your comment!
Please enter your name here

- Advertisment -

Recent News & Articles

FLOKI Partners With Crypto Education Specialists TechTree to Build the Premier Crypto Educational Platform “Floki University”

Floki Inu (FLOKI) recently declared via tweet that it has partnered with TechTree, the core educational platform for crypto and De-Fi - a core...

Crypto Relief India has decided to move $100 Million USDC Back to Vitalik Buterin Wallet with the Intention to Accelerate Relief Efforts in India

Sandeep Nailwal, a cofounder of Polygon (MATIC) and founder of Crypto Relief, has just posted a CryptoRelief Update via his official Twitter handle. According to...

Ripple Supporters May Wait Until Next Year Before SEC Lawsuit Will End

John Deaton said Ripple supporters may have to wait until next year before a verdict is given in the  lawsuit filed by the Securities...

DeFi Wallet Ambire Gains Momentum, Launches $WALLET Token on Huobi Primelist

Sofia, Bulgaria, 28th January, 2022, — DeFi-focused crypto wallet by Ambire is launching its much anticipated governance token on the Huobi exchange. Ambire...

Celebrate Lunar Spring Festival With Theme: A Holiday For Some, Rewards For Everyone. wishes all its users a very happy Lunar Spring Festival! May the year of the Tiger bring you health, wealth, love, and prosperity.

Bradenton Hot Dog Restaurant Embraces Dogecoin As Payment

A Bradenton restaurant named Willy-Yums has announced that customers can now pay for their favorite hot dog sandwiches using popular cryptocurrency dogecoin (DOGE). 

Some Major Thing Coming For SHIB, Shiba Inu Team Teases: ‘Something Is Cooking, Will You Be Ready’

Nowadays, Shiba Inu (SHIB) teases its holders and followers with new surprises. window.coinzilla_display = window.coinzilla_display || ; ...

Subscribe To Our Newsletter

Get Updated with All The latest Crypto News, Articles, Reviews, Analysis and much more. Delivered Every Monday.