Former SEC Chairman Jay Clayton Hints New Crypto Regulations Could Reshape the Industry

Former SEC Chairman Jay Clayton hinted that a new set of crypto regulations could soon reshape the industry. Speaking at a securities law event in New York

Former SEC Chairman Jay Clayton hinted at upcoming crypto regulations that could significantly alter the industry. Speaking at a securities law event in New York, Clayton predicted that Congress may enact digital asset regulations during President-elect Donald Trump’s term.

Clayton suggested that a revised approach would provide clarity for the crypto industry, which has been awaiting consistent rules amid the Biden administration’s aggressive stance against crypto firms. He noted the challenges in creating crypto-specific regulations within the current system.

Clayton proposed addressing certain issues at the executive and administrative levels to streamline the process and cater to the industry’s needs.

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In an appearance on CNBC’s “Squawk Box,” Robinhood CEO Vlad Tenev and Coinbase CEO Brian Armstrong expressed similar views. Tenev noted that the Trump administration has shown interest in positioning the U.S. as a global leader in cryptocurrency innovation.

Jay Clayton Criticizes Biden’s Regulatory Approach

Clayton also criticized the Biden administration’s regulatory approach, which he said is harming participation in the public markets. He argued that the requirement for extensive disclosures distracts businesses from their primary goals and called the SEC’s current stance “terrible” for the market.

Clayton highlighted recent Supreme Court decisions that limit the authority of the executive branch, which he said could force regulatory agencies to reconsider their ongoing policies and legal strategies.

When asked if he would join the Trump administration, Clayton declined to share specifics but said he would be interested in a role where he could make a meaningful impact.

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