February 6, 2023

Jay Clayton: “SEC takes a balanced proactive approach to regulating cryptocurrencies”

SEC Chair argues that the Commission has adopted a “balanced but proactive approach” to regulation cryptocurrencies, which helps both retail and institutional investors.

Chairman of the Securities and Exchange CommissionUSA (SEC) Jay Clayton informed lawmakers about official regulator policies. Speaking to the Senate Banking Committee, Clayton emphasized the potential of the blockchain in assisting market participants in the field of capital accumulation.

“As I said earlier, I believe thatdistributed ledger technology can help capital formation by providing promising investment opportunities for both institutional and retail investors. In general, I believe that we have taken a balanced but proactive regulatory approach that promotes innovation and capital formation while protecting our investors and markets. ”

Despite Clayton’s position, SEChas been repeatedly criticized by the community for its actions against cryptocurrency companies. For example, in June, the SEC suspected Kik, which had an ICO in 2017, in violation of securities laws. In September, it became known that the Kik messenger could close due to pressure from the SEC.

Crowdfund Insider InterviewsClayton after his speech to the Senate Banking Committee, in which he noted that the situation with legal actions against cryptocurrency companies will remain difficult. Speaking about cryptocurrencies, in particular, the Libra cryptocurrency planned for launch, he added: “It already exists, we can’t just ignore it.”

Recall that last week, US regulators called for increased monitoring of crypto assets and stablecoins.