Jay Clayton, Chairman of SEC Got Into Debate on Crypto

Nishanth Shetty

August 2, 2018 11:26 am

Cryptocurrency News

Jay Clayton, Chairman of SEC Got Into Debate on Crypto | Coindelite News
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Recently the Securities and Exchange Commission (SEC) has published a report which showcases the passionate discussions happened over cryptocurrencies within the agency.

SEC official Eric Werner introduced Jay Clayton, chairman of SEC. Werner is the associate director of enforcement for the SEC’s Fort Worth regional office.

Werner highlighted a moment where he goes into a “heated” discussion between the SEC chairman and an unnamed lawyer about cryptocurrency.

Werner said:

“In fact, the first time that I met the Chairman, I walked into a heated discussion he was having with an attorney in my office about the legitimacy and viability of cryptocurrencies. I was taken aback, honestly, about how much thought he had given to this space and the issues surrounding that. And what I have learned in the time working with him is that he has given every single issue that he has confronted that same dedication and thought process.”

Recently in February, Clayton accentuated the contrast between cryptocurrencies and ICO-derived tokens that are securities.

He Included:

“I want to go back to separating ICOs and cryptocurrencies. ICOs that are securities offerings, we should regulate them like we regulate securities offerings. End of story.”

Recently, SEC debated whether cryptocurrencies are securities and the initiatives tried to differ XRP from ripple.

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