The US Securities and Exchange Commission head called Jay Clayton has made Bitcoin get a final boost while preparing to leave the agency.
In his exit interview with CNBC, the chief of SEC confirms that the agency does not view Bitcoin as a security. But, the chief says that he sees Bitcoin as a store of value option.
Clayton further adds that the governments of every country use to regulate payment systems. Hence, Bitcoin will also be regulated like other payment methods.
Mainly, the king of the coin attracts more users who are already tired of the inefficiencies, which surround the traditional payment mechanisms these days.
The American attorney Jay Clayton has served the SEC as chairman for three years since 2017. He will resign at the end of this year, as stated by himself earlier. However, the US Securities and Exchange Commission has filed 56 crypto-related actions under the chief’s administration.
According to Clayton, during his tenure at the SEC, the agency has repeatedly halted several attempts to introduce a Bitcoin ETF. Clayton says he will move out of the SEC this year, leaving the crypto-friendly lawyer Hester Peirce with the agency for another term.
Jay Clayton has told CNBC that some weak links in the existing payment structure contribute to the rise of Bitcoin. The chief sounded optimistic about the future potentials of cryptocurrencies; he said that the market of cryptocurrencies would get mature with time. He has also noted that the crypto market will experience more regulations around the digital payment space.
Earlier, Clayton used to criticize Bitcoin and the altcoins and kept a tight restriction on digital assets. The SEC has blocked multiple ETFs from launching under Clayton’s leadership. Yet, in 2020, that attitude towards cryptocurrencies has changed quite a bit as it is more like a risk assessment now than a complete ban.