Outgoing SEC Chair Jay Clayton reveals what’s driving the rise of BTC
Jay Clayton is stepping down from his role as SEC Chairman at the end of the year, but before going he wants to set the record straight on the SEC’s opinion of Bitcoin. The outgoing SEC Chairman Jay Clayton, who oversaw the rejection of nine Bitcoin ETFs during his tenure, has told CNBC that “inefficiencies” in the current payments systems are continuing to drive the popularity of Bitcoin. Appearing on CNBC’s Squawk Box yesterday Clayton, who is due to step down by the end of the year, confirmed his agency’s general assessment that Bitcoin was not a security but a payment mechanism and store of value.
Coin Telegraph - 20th Nov 03:11