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Monday, May 17, 2021

Former SEC Chairman Jay Clayton Warns of New Bitcoin Regulations

Former SEC Chairman Jay Clayton Warns of New Bitcoin Regulations

In a TV appearance, ex-SEC Chair Jay Clayton warned new regulations around bitcoin could be coming soon.

In an interview with CNBC Squawk Box posted Thursday, Clayton said bitcoin had the status as a non-security at the SEC but this does not mean it should not be regulated.

*  “Where digital assets land at the end of the day will be driven in part by regulation both domestic and international, and I expect that regulation will come in this area both directly and indirectly,” Clayton said about bitcoin (BTC, +1.08%).

*  The former SEC Chairman stressed he was “speaking as a citizen” during the interview.

*  Under Clayton, the SEC cracked down on unregistered and fraudulent initial coin offerings. The commission also refused to approve the application of any bitcoin exchange-traded funds and sued Ripple Labs.

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