SEC’s Jay Clayton Talks Crypto: What Future Awaits for the World of Digital Assets?

The chairman of SEC Jay Clayton made his appearance at Consensus, the event organized by CoinDesk. Together with his colleagues and fellow experts, Clayton spoke about the future development of cryptocurrencies in the US, details of its regulation and plans of the Commission.

Here are the most important points of his speech:

1. Regulation of crypto exchanges.

SEC firmly believes that the infrastructure of the current cryptocurrency exchanges is not powerful enough to guarantee the safety of customers’ funds. Thus, the regulation of crypto trading platform might become way stricter in the future.

2. ICOs will not escape from SEC

Clayton and the other chairmen emphasized the fact of their close attention to the startups that go on token sales. The number of scam projects uncovered by the Commission is pretty big now and it will only keep growing.

We remind you:

More Than a Dozen Fraud ICOs Were Shut Down by the SEC in 2018

3. Bitcoin ETF is a no-no

There has been a lot of speculation recently regarding the infamous topic of Bitcoin exchange traded funds. Despite all the rumours, it seems unlikely that ETFs will ever be approved.

I know there are a lot of folks who would love to have the ETF approved but I don’t think that’s very likely,” one of the chairmen stated.

Thus, we can definitely see that the Securities and Exchange Commission is not playing games, and the crypto industry will feel its influence quite soon.

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