Jay Clayton

From CryptoMarketsWiki
Revision as of 17:10, 1 April 2019 by JohnLothian (talk | contribs)
Jump to: navigation, search

Walter Clayton
Jay clayton.jpg
Occupation Chair
Employer Securities and Exchange Commission
Location New York City

Walter "Jay" Clayton is the chairman of the U.S. Securities and Exchange Commission (SEC).

Clayton was nominated by President Donald Trump on January 20, 2017 to lead the SEC, was confirmed by the Senate for that role on May 2, 2017 and sworn in two days later.[1][2][3]


Speaking at a CoinDesk-sponsored Consensus conference in November 2018, Clayton said that when tokens are issued in order to finance a venture and the tokens are bought by persons hoping to profit from the token price appreciation, those are obviously securities. He also said that the status of some tokens may not be clear cut and with regard to XRP,the token issued by Ripple, Clayton acknowledged that "some of these questions require a lot of information." With regard to the potential for an SEC-approved cryptocurrency ETF, Clayton raised concerns about the potential for manipulation of trading the underlying coins on unregulated platforms.[4]

In an intensely anticipated response to a formal request from U.S. Congressman Ted Budd regarding cryptocurrencies, which can be found here, Clayton wrote to the Congressman - in a letter that can be found here, that he believed that a token could transition to being a non-security after having been issued as a security. The letter affirmed SEC Director of the Corporation Finance Division William Hinman's 2018 statement that a currency could transition although, unlike Hinman, Clayton made no reference to Ethereum or any other cryptocurrency.[5] CoinCenter, a Washington, D.C.-based cryptocurrency advocacy group, claimed that it had worked with Budd to draft the letter.[6]

Later, Clayton told Fox Business News that he is not opposed to cryptocurrencies but is concerned about the potential for its manipulation to the disadvantage of investors. Clayton also said in the interview, "“What I’m concerned about at the moment is if it can be reasonably demonstrated that the underlying trading is generally not manipulated, it’s happening on reliable venues with good rules and that custody is something we can feel comfortable about."[7]

Full page on MarketsWiki

To read the full article on Jay Clayton, click on Marketswiki.gif to open a new tab with MarketsWiki.


| style="height:100px; width:100px; text-align:center;"|
We visit more than 100 websites daily for financial news (Would YOU do that?). Read the John Lothian Newsletter.