• Former SEC Chair Jay Clayton commented on the agency’s current treatment of crypto in a conversation at Bloomberg Invest on June 8.
• He was known for being a “crypto hawk” who shut down the “ICO craze” during his tenure and he refused to explicitly contest the actions of his successor, Gary Gensler.
• He supports the SEC and noted that he believes the crypto industry needs clarity from either Congress or case law.
Former SEC Chair’s Comments on Crypto
Former SEC chair Jay Clayton commented on the agency’s current treatment of crypto in a conversation at Bloomberg Invest on June 8th. He was known for being a „crypto hawk“ who shut down the „ICO craze“ during his tenure as chair, and he refused to explicitly contest the actions of his successor, Gary Gensler. However, he did support the SEC and noted that he believes the crypto industry needs clarity from either Congress or case law.
Ooki DAO Fined by CFTC
The CFTC has recently won a court victory against Ooki DAO that will result in them having to pay $643K fine. This is an example of how regulating bodies are taking action against companies operating within cryptocurrency markets without proper licensure or authorization.
Jay Clayton Endorses ‚True Stablecoins‘
Clayton expressed his support for true stablecoins during his talk, which can provide greater security and stability than other cryptocurrencies due to their backing by real-world assets such as fiat currency or gold reserves. These coins could represent a more reliable form of value transfer than other digital currencies currently available in certain cases, and could be beneficial for those looking to send money cross-border quickly and securely.
Crypto.com Halts US Institutional Exchange Offering
Crypto exchange platform Crypto.com announced they will be halting their US institutional exchange offering due to regulatory compliance issues with financial authorities such as FinCEN. The halt will only affect institutional investors while retail users remain unaffected and can continue using their services as normal.
Buterin Says Ethereum Needs 3 Critical Transitions
Vitalik Buterin recently made some comments about Ethereum needing three critical transitions if it wants to ensure its survival going forward: improved scalability solutions such as sharding; improved privacy features; and improvements to make Ethereum easier to use for developers building DApps on top of it’s blockchain network .