A newly untied transcript from a Securities and Exchange Commission (SEC) roundtable in June showcased the occasionally passionate discussion around cryptocurrencies within the agency.
At the start of the June 4 roundtable on manners standards for investment professionals, according to the transcript, SEC official Eric Werner introduced Jay Clayton, who was introduce at the event and currently serves as chairman of the SEC. Werner is the associate director of enforcement for the SEC’s Fort Merit regional office.
In discussing Clayton’s work at the agency, Werner highlighted an example in which he walked into a “heated” discussion between the SEC chairman and an unnamed attorney anent cryptocurrency – while also stressing Clayton’s commitment to the issue in matter.
Werner was quoted as saying:
“In fact, the first time that I met the Chairman, I paraded into a heated discussion he was having with an attorney in my office thither the legitimacy and viability of cryptocurrencies. I was taken aback, honestly, about how much thoughtfulness he had given to this space and the issues surrounding that. And what I hold learned in the time working with him is that he has given every unique issue that he has confronted that same dedication and thought manage.”
Clayton, whose agency is one of several U.S. regulatory bodies taking a outstanding role in regulating the industry, particularly around initial coin contributions (ICOs), has remarked publicly on the technology in the past.
Indeed, it was during a pay attention to in February that Clayton stressed the difference between cryptocurrencies and ICO-derived symbols that are securities.
“I want to go back to separating ICOs and cryptocurrencies. ICOs that are confidences offerings, we should regulate them like we regulate securities donations. End of story,” he said at the time.
Jay Clayton image via YouTube/CSPAN
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