{"id":382013,"date":"2021-12-16T22:30:00","date_gmt":"2021-12-16T19:30:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/im-a-huge-believer-in-crypto-technology-says-former-us-sec-chair\/"},"modified":"2021-12-16T22:30:00","modified_gmt":"2021-12-16T19:30:00","slug":"im-a-huge-believer-in-crypto-technology-says-former-us-sec-chair","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/im-a-huge-believer-in-crypto-technology-says-former-us-sec-chair\/","title":{"rendered":"# \u2018I&#8217;m a huge believer in crypto technology,\u2019 says former US SEC chair"},"content":{"rendered":"<p>&#8220;<strong># \u2018I&#8217;m a huge believer in crypto <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/technology\/\" data-internallinksmanager029f6b8e52c=\"4\" title=\"Technology\" target=\"_blank\" rel=\"noopener\">technology<\/a>,\u2019 says former US SEC chair <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNTdjZWNhNGItNTQzZi00ZWE0LWJhODYtODhmNDIyNjc4Y2FmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Former chairman of the U.S. Securities and Exchange Commission, or SEC, Jay Clayton, was <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ointed by ex-President Donald Trump to serve in 2017.\u00a0<\/p>\n<p>In his tenure as head of the SEC, Clayton often defended Bitcoin (BTC) as a store of value. This past Wednesday, during an interview with CNBC&#8217;s Squawk Box show, Jay shared his thoughts on cryptocurrency and how it should be regulated going forward.<\/p>\n<p>The former SEC chair said that he is a \u201chuge believer in crypto technology\u201d and that its efficiency advantages in the financial system and tokenization are enormous.\u00a0<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">&#8220;I am a huge believer in this technology,&#8221; says Jay Clayton on <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/crypto?src=hash&amp;ref_src=twsrc%5Etfw\">#crypto<\/a>. &#8220;The efficiency benefits in the financial system and otherwise from tokenization are immense.&#8221; <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/WZqKE5cePN\">pic.twitter.com\/WZqKE5cePN<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1471097182426173453?ref_src=twsrc%5Etfw\">December 15, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nClayton&#8217;s remarks come as the current SEC chair, Gary Gensler, recently confirmed that the watchdog has no plans to ban crypto, but that U.S. congress could. Gensler warned, however, that crypto in its current form is comparable to the wild west without proper regulation.<\/p>\n<p><em><strong>Related: SEC chair doubles down, tells crypto firms &#8216;come in and talk to us&#8217;<\/strong><\/em><\/p>\n<p>When asked whether the present chairperson is creating too many restrictions for the crypto industry, Jay said that cryptocurrencies have numerous purposes and are connected to a variety of industries, and the SEC should be in charge of regulating only those sectors that are linked to it.<\/p>\n<blockquote><p>\u201cCrypto is a wide variety of products, with a wide variety of functions, and the rules of our financial system are clear and long-standing. If you are raising capital for a project, you have to register your capital raising with SEC. If you are trading securities it has to be on a registered venue, But there are many crypto sectors like stablecoins that are not securities and outside of SEC purview.\u201d<\/p><\/blockquote>\n<p><em><strong>Related: SEC Chair wants robust crypto regulatory regime for the US<\/strong><\/em><\/p>\n<p>According to Clayton, cryptocurrencies should be implemented but with appropriate regulation. He said that the government should be &#8220;reactive to people who are violating our well-defined laws but proactive in encouraging the adoption of this technology throughout our financial system.&#8221;<\/p>\n<p>Clayton did not allow the approval of a Bitcoin ETF during his term, which occurred now in 2021 under Gary Gensler. The agency has since come under fire for rejecting spot ETF applications and approving Bitcoin futures ETFs. Grayscale submitted a letter to SEC&#8217;s secretary, Vanessa Countryman, in which it stated that \u201cthere is no basis for the position that investing in derivatives for an asset is acceptable for investors but not investing in the asset itself.\u201d The SEC was accused of treating the two Bitcoin ETF proposals unequally under the Administrative Protections Act, or APA.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/i-m-a-huge-believer-in-crypto-technology-says-former-us-sec-chair\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# \u2018I&#8217;m a huge believer in crypto technology,\u2019 says former US SEC chair &#8221; Former chairman of the U.S. Securities and Exchange Commission, or SEC, Jay Clayton, was appointed by ex-President Donald Trump to serve in 2017.\u00a0 In his tenure as head of the SEC, Clayton often defended Bitcoin (BTC) as a store of value&#8230;.<\/p>\n","protected":false},"author":1,"featured_media":382014,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMTIvNTdjZWNhNGItNTQzZi00ZWE0LWJhODYtODhmNDIyNjc4Y2FmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74858,74863,74898,74355,70934,67874],"class_list":["post-382013","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-bitcoin-regulation","tag-cryptocurrencies","tag-sec","tag-adoption","tag-regulation","tag-united-states"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/382013","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=382013"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/382013\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/382014"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=382013"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=382013"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=382013"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}