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.

Apr 2, 2021 at 4:28 p.m. UTC
Updated Sep 14, 2021 at 12:35 p.m. UTC

In an interview with CNBC's "Squawk Box" posted Thursday, Jay Clayton, the former chief of the Securities and Exchange Commission, said bitcoin was not considered to be a security at the agency 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.
  • 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 is suing Ripple Labs.
  • In March, Clayton took on an advisory role at hedge fund One River Digital Asset Management, the parent company of the newly launched digital asset fund One River Digital.
  • Clayton was also named non-executive chairman of Apollo Global Management’s board of directors.

Read more about
The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

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.

Trending

1
CoinDesk - Unknown
Japanese Bank Sumitomo Mitsui Trust to Establish Digital Asset Custodian: Report

The bank's pivot to digital assets comes alongside a global banking shift toward cryptocurrencies.

The bank's pivot to digital assets comes alongside a global banking shift toward cryptocurrencies.

CoinDesk - Unknown
2
CoinDesk - Unknown
BNP Paribas Joins JPM's Blockchain Network Onyx for Fixed Income Trading: Report

The French bank will use the Onyx network for short-term fixed income trading.

The French bank will use the Onyx network for short-term fixed income trading.

CoinDesk - Unknown
3
CoinDesk - Unknown
Crypto Valley Venture Capital Launches African Blockchain Early-Stage Fund

The venture capital investor published a report which found funding for African blockchain startups far outpaced investment in other venture funding.

The venture capital investor published a report which found funding for African blockchain startups far outpaced investment in other venture funding.

CoinDesk - Unknown
4
CoinDesk - Unknown
First Mover Asia: Terra's Difficult Post-Collapse Path: VCs Backing Away, Regulators Jumping on Stablecoins

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

Some investors see salvageable pieces in the rubble while others are bemoaning their involvement and want to forget the protocol ever existed; bitcoin edges up in weekend trading.

CoinDesk - Unknown