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

Jay Clayton

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?”



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