What do you get when you put the chairman of the U.S. Securities and Exchange Commission (SEC) in front of an audience of crypto insiders? An applause line, a word of warning and an analogy about theater tickets.
Jay Clayton took the stage Tuesday afternoon at the CoinDesk-organized Consensus: Invest conference in midtown Manhattan. In a lively conversation with investor Glenn Hutchins, Clayton shared his thoughts on what protections are still needed before the SEC issues key approvals relating to cryptocurrency trading.
Though his remarks on the SEC's determination that bitcoin does not have the attributes of a security drew applause, Clayton also delivered a quip aimed at startups funded via initial coin offerings: “Get your act together.”
You can watch the full video of Clayton's fireside chat below:
Photo by Stan Higgins for CoinDesk
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.