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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.
Updated Dec 6, 2022, 8:22 p.m. Published Apr 2, 2021, 4:28 p.m.
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.
STORY CONTINUES BELOW
- "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: Former SEC Chief Clayton to Chair Investment Giant Apollo
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