According to former chairman of the SEC, Jay Clayton, cryptocurrencies serve a variety of functions and are tied to a range of industries, and the SEC should regulate only those industries that are related to them. Clayton Believes In Crypto Technology Jay Clayton, the former chairman of the Securities and Exchange Commission, or SEC, was appointed to the position by ex-President Donald Trump in 2017. Clayton frequently supported Bitcoin (BTC) as a store of value throughout his time as the SEC’s chairman. Jay discussed bitcoin and how it should be controlled in the future during an appearance with CNBC’s Squawk Box broadcast on Wednesday. The former SEC chair stated that he is a “huge believer in crypto technology” and that the benefits of its efficiency in the financial sector and tokenization are immeasurable. Clayton tweeted: “I am a huge believer in this technology. The efficiency benefits in the financial system and otherwise from tokenization are immense.” Clayton’s comments come after the current SEC head, Gary Gensler, recently stated that the watchdog has no intentions to ban cryptocurrency, but that Congress may do so. However, Gensler cautioned that cryptocurrency in its current state is akin to the wild west without proper regulation. Related Reading | CBDCs to coexist with cash payments, according to FED Chairman Powell When questioned if the current chairperson is im...
