- The Securities and Exchange Commission (SEC) has seemingly been very active in the crypto space this past couple of years.
- Jay Clayton recently went before the US Senate Committee to testify against blockchain technology and crypto.
- The chair went onto to talk about blockchain and crypto as well as specifically mentioning distributed ledger technology.
The Securities and Exchange Commission (SEC) has seemingly been very active in the crypto space this past couple of years. The commission has made numerous attempts to regulate all the many intricate sections of the industry.
Jay Clayton, the Chairman of the SEC recently went before the United States Senate Committee to testify against several issues. This included blockchain technology and cryptocurrencies.
Prospects of blockchain
As well as mainstream companies, many nations across the globe have been bullish on the prospects of blockchain tech. At the same time, they have been very vocal on how they are against cryptocurrencies.
The chair went onto to talk about blockchain and crypto as well as specifically mentioning distributed ledger technology.
Clayton went on to say:
“I am optimistic that developments in distributed ledger technology can help facilitate capital formation, providing promising investment opportunities for both institutional and Main Street investors.”
The securities commission has taken a “measured, yet proactive regulatory approach” to address issues such as innovation, according to the SEC chairman. This is coupled with capital formation, whilst also keeping an eye on the market itself.
Facebook's upcoming stablecoin project, Libra has been putting in the work to avoid the regulatory hurdles that have been put up since before it was even officially announced.
There’s plenty of people and organisations that want to see Libra fail, or ideally just not launch at all.
Speaking before the senate committee, Clayton the Libra project, saying:
“It’s here, we should not go around it.”
It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!