According to Cointelegraph, the United States Securities and Exchange Commission (SEC) President Jay Clayton, cryptocurrencies, except for the securities law will not make exceptions, he added. Clayton added that he would not stand in front of the cryptocurrency.
Amendments to the Law
In an interview with Bloomberg on August 27, Clayton declared that he had no intention of including or excluding digital assets while rearranging securities laws :
Many people were excited to change the rules to adapt to this new technology and spent a lot of time and effort thinking that this could happen. I’ve been very clear all along, it won’t happen.
In addition, Clayton states that he is not anti-innovator or hostile to digital payment systems:
If we can find a way to reduce the cost of payments internationally through technology, I’m always there for it. But we cannot sacrifice the basic principles of securities law and other laws to allow this to happen.
Bitcoins and ICOs
Besides, Clayton said he did not see all the crypto currencies the same. For example, he does not see Bitcoin as security. At the same time, he also noted that the SEC has identified several ICOs that comply with the securities regulation. However, they also found many ICO projects uncomfortable because of statements such as “ running out of time” or olun be four times more than first entrants Kazan.
In other news, Clayton, in early June, stressed that there were too many measures to be taken before a possible ETF approval for the cryptocurrency.