Former SEC Chairman Jay Clayton: I don't think cryptocurrency technology should be regulated by the SEC.

Former U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton said in an interview with CNBC on December 15 that he is a credible investor in cryptocurrency and believes it can make a difference. major financial benefits. He also said cryptocurrencies have many features and the SEC should not seek to oversee the entire ecosystem beyond its authority.

The SEC should not be fully regulated.

When asked if current SEC Chairman Gary Gensler has placed excessive restrictions on the cryptocurrency industry, Clayton stressed that the SEC should not try to control all cryptocurrencies, but focus on the relevant markets for the marketing company. Versatile functions and versatile products Our financial policies are very clear. You must register with the SEC to participate in the fundraiser. If you are working in a safe environment, you must do so in a controlled environment. However, there are many crypto (like securities) markets that are insecure and unregulated by the SEC.

Noting that now billions of cryptocurrency transactions occur daily, Clayton believes regulators should be involved in the nature of the illegal activity, but this does not affect the growth of cryptocurrencies in all financial institutions. Clayton also doesn't think cryptocurrencies are as crazy as the Old West.

Clayton has always believed that good cryptocurrency payments can replace traditional payments and is a legitimate follower of this view (Hugebeliever): he believes this (cryptocurrency) approach to be successful can bring great financial benefits.

Former SEC chairman in charge of ICOs

Clayton acquired the SEC in May 2017. Meanwhile, the wave of ICOs began and the fraud scheme spread. Clayton led the SEC to treat ICO projects as security. While removing various scams, many new developers (such as Block.One and TON from Telegram) are dying.

Clayton initially worked to restrict the operations of the ICO, but before stepping down in 2020 he said Bitcoin was not a secure and preferred payment and storage device at a high price. Additionally, Clayton has rarely expressed his views on Bitcoin to CNBC and believes the inefficiency of the current payment system will always fuel Bitcoin's growth.