In a recent TV interview with CNBC Squawk Box, former SEC chief, Jay Clayton warned that new regulations around crypto-currencies, especially Bitcoin are on their way.
During the interview that was aired on Thursday, Clayton acknowledged that although Bitcoin does not fall under the regulatory jurisdiction of the SEC and as well as a non-security status, that does not mean it should not be regulated.
In his exact words “where digital assets land at the end of the day will be driven in part by regulation both domestic and international, and I expect that regulation will come in this area both directly and indirectly”
Mr Clayton during the interview, however, clarified that his view was that of a private citizen and does not represent the position of any institution or group whatsoever.
Recall that the SEC under the leadership of Jay Clayton had cracked down on unregistered and fraudulent coin offerings. The commission also refused to approve the application of any Bitcoin exchange-traded funds and as well sued Ripple Labs.
Since leaving SEC, Clayton has taken up a senior management position at hedge fund One River Digital Asset Management, the parent company of the recently launched digital asset fund One River Digital. He has also been named non-executive chairman of Apollo Global Management’s board of directors.