Jay Clayton
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Ex-SEC Chair, Jay Clayton Believes Cryptocurrency Industry Is For Long Haul

The former boss of the U.S. Securities and Exchange Commission Jay Clayton speaking during his Sept. 23 appearance on CNBC’s “Squawk Box,”.

Additionally, he speaks on the future of the cryptocurrency industry,

“I personally believe that this technology is here to stay”

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This is after He sees huge criticisms for failing to approve a Bitcoin-based exchange-traded fund. For instance, and also not bringing a lawsuit against ledger company Ripple.

Jay Clayton now sits on the advisory boards of cryptocurrency fund One River Digital and digital asset custody provider Fireblock.

This, of course is despite all the criticism he receives on his hostility toward the crypto industry during his tenure.

Currently, Jay Clayton serves as a non-executive chairman of asset manager Apollo Global Management.

Structure Building As Jay Clayton Explains

Additionally, Clayton talks on Coinbase’s recent problems with the notorious securities regulator.

He explains his recent involvement in The Wall Street Journal saying he’s making a case for creating a regulatory framework. Additionally, this will be based on existing market protection rules.

During an interview, he makes claims on how it’s necessary to determine what incumbent analogies certain cryptocurrencies or crypto-based products have:

“At what point does it start to look like a money market mutual fund?”

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.