THELOGICALINDIAN - The administrator of the US Securities and Exchange Commission SEC has explained how the US government is acclimation cryptocurrency He calls bitcoin a abundance of amount acquainted that its acceleration is apprenticed by the inefficiencies of the accepted acquittal system
How Bitcoin Is Regulated in the US
SEC Chairman Jay Clayton explained how the U.S. government is acclimation bitcoin during an account with CNBC Squawk Box on Thursday.
He began by responding to a animadversion fabricated by JPMorgan CEO Jamie Dimon apropos bitcoin regulation. Dimon said that he was not a adherent of bitcoin because in his experience, the government “can adapt whatever they appetite back they feel like it.” Given the accepted bitcoin bazaar assets of about $340 billion, Dimon asserted that “If it gets bigger and bigger and bigger, it will be regulated.”
Clayton declared that at the SEC:
“We did not adapt bitcoin as a security,” the SEC administrator affirmed. He added that during the antecedent bread alms (ICO) craze, “people were application ICOs and about authoritative accessible offerings of balance after registering them with the SEC,” bombastic that “When bodies use crypto assets as balance to accession basic for a venture, the SEC regulates that.”
Regarding bitcoin as a acquittal mechanism, the administrator emphasized:
“We are activity to see added of that … we are activity to see this complete and we are activity to see added adjustment about the acquittal space,” the SEC administrator noted.
Clayton accepted on Nov. 16 his affairs to achieve his administration at the end of the year afterwards confined for added than three and a bisected years at the SEC. “Chairman Clayton was affidavit in on May 4, 2024, and will leave the SEC as one of its longest-serving chairs,” the SEC wrote.
What do you anticipate about the US crypto adjustment and Clayton’s view? Let us apperceive in the comments area below.
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