2 min read | 7 months ago

U.S. Securities and Exchange Commission (SEC) had a serious discussion on cryptocurrencies


At the latest roundtable, U.S. Securities and Exchange Commission (SEC) had a serious discussion on cryptocurrencies.


Since the SEC was founded in 1934, the agency has had to take responsibility on protecting securities markets in the U.S. The recent chairman of SEC, Jay Clayton, released a public statement last week on their official website:


“Shareholder engagement is a hallmark of our public capital markets… In 2010, the Commission issued a concept release seeking public comment on whether the U.S. proxy system as a whole operates with the accuracy, reliability, transparency, accountability, and integrity that shareholders and companies should expect.”


According to a report from an inside staff, Clayton had a fierce discussion with an unknown lawyer who works in the cryptocurrency field.


It was not the first time Clayton has mentioned cryptocurrencies. Earlier this year, Clayton emphasized differences around cryptocurrency and ICOs.


He declared in a hearing in February that “I want to go back to separating ICOs and cryptocurrencies. ICOs are like securities offerings, we should regulate them like we regulate securities offerings.”


A potential U.S. candidate and cryptocurrency supporter, John McAfee, has argued with Clayton about cryptocurrency classification. McAfee responds rapidly with a strong disagreement on Twitter.


The debate between the SEC and McAfee emphasized the significance of cryptocurrencies, and the government may need to be involved in the cryptocurrency control.

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