Former SEC Chairman Jay Clayton has reiterated his view that the “vast majority” of cryptocurrencies are securities under existing U.S. law. Clayton made the remarks in an interview with TechCrunch, where he spoke about his time as chairman of the U.S. Securities and Exchange Commission.
“I believe that the vast majority of cryptocurrencies and ICOs today are indeed securities,” Clayton said. “I also believe that, as applied to the digital asset world, the existing body of securities laws provides a good set of rules, set of regulations, for all of us to follow.”
Clayton also noted that the SEC is continuing to work on its regulatory guidance for the digital asset and cryptocurrency markets in an effort to create clarity and certainty for all participants. “The SEC’s goal is to ensure that investors have the protections that our securities laws provide, and that people who issue and trade digital assets can do so in a transparent and efficient manner,” he said.