Former SEC chairman Jay Clayton criticizes hard measures against Bitcoin - Did the SEC agenda fail?

Former SEC chairman Jay Clayton criticizes hard measures against Bitcoin - Did the SEC agenda fail?
The former chairman of the US security and stock exchange supervisory authority (Sec), Jay Clayton, criticized the hard measures of the SEC against Bitcoin. Clayton believes that the progressive adoption of Bitcoin is unstoppable and the agenda of the SEC may already have failed.
clayton views differ greatly from those of his successor, Gary Gensler. Gensler, who supports Senator Elizabeth Warren, has recently taken strict measures against Ripple, Coinbase and Binance. The legal disputes in these cases are negotiated in court every day and new facts come to light.
In a CNBC interview, Clayton expressed his amazing change in terms of Bitcoin. In 2015 and 2016, he considered cryptocurrencies to be a short-lived offshore facility option for retail. At the time, he could not imagine that Bitcoin would ever find the same with leading financial companies.
Clayton continued: “At the beginning, cryptocurrencies had nothing to do with what I would call the core of our financial markets. If you considered the trade with Bitcoin at the time, it was similar to trading in shares, but was not really comparable. In the meantime we have experienced a development with great reputation: ' to offer and use our name for it '. " Clayton described this development as incredible.
Although Clayton was initially skeptical about Bitcoin, he now expressed more positive views on the growth of the industry. At that time, studies had shaped his perception, which pointed out that about 90% of cryptopolic activities were wash trading. However, this skepticism was in the sand, especially in view of well -known market participants such as BNY Mellon, Bank of America and Goldman Sachs, which added cryptocurrencies to their platforms.
In conclusion, Clayton explained that the regulatory approval of Bitcoin ETFs was almost certain. Such approval would enable investors to act Bitcoin on regulated stock exchanges and thus facilitate the institutional entry into the cryptom market.It remains to be seen how the views and measures of the SEC will develop in relation to Bitcoin. The debate about regulation and acceptance of cryptocurrencies will certainly be continued in the coming years.
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