Securities and Exchange Commission (SEC) Chairman Jay Clayton spoke at the Consensus conference yesterday, November 27th, 2018. He touched on a number of topics relating to ICOs, the Bitcoin Exchange Traded Fund (ETF) approval process, and even commented on specific coins/assets for the approximately 1,300 attendees.
In regards to a potential Bitcoin ETF, he noted that unregulated exchanges is a major barrier:
— 'LEARNINGS' ISN'T A WORD (@davidzmorris) November 27, 2018
Clayton went on to further clarify statements that he made in the past about whether ICOs are considered securities:
SEC's Jay Clayton: If you're starting a venture and funding it by selling a token, start with the assumption it's a securities offering #ConsensusInvest
— Camila Russo (@CamiRusso) November 27, 2018
Clayton solidified his stance that Bitcoin and Ethereum are not securities. Ripple? TBD:
— Chris Burniske (@cburniske) November 27, 2018
What is his reasoning? Bitcoin is a currency:
SEC chair Jay Clayton at #ConsensusInvest gets applause from the room after he says: "An asset like #bitcoin, we’ve determined that doesn’t have the attributes of security… it’s designed to be akin to the dollar, the yen, the euro. And it operates that way."
— Daniel Roberts (@readDanwrite) November 27, 2018
All in all, Clayton had a positive outlook on the future of the technology:
Jay Clayton, Chairman of the SEC on stage at #ConsensusInvest :
“Distributed Ledger Technology has a huge potential in the securities market.” pic.twitter.com/EABRJEMTns
— Ami Ben-David (@amibendavid) November 27, 2018