{"id":32076,"date":"2020-11-20T10:11:43","date_gmt":"2020-11-20T08:11:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=32076"},"modified":"2025-08-28T06:53:19","modified_gmt":"2025-08-28T03:53:19","slug":"sec-chair-outlines-why-bitcoin-is-rising","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/sec-chair-outlines-why-bitcoin-is-rising\/","title":{"rendered":"SEC Chair Outlines Why Bitcoin Is Rising"},"content":{"rendered":"<p>The head of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, told CNBC that interest in the first cryptocurrency is based on the &#8216;inefficiencies&#8217; of current payment systems.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\">\u00abWe determined that bitcoin was not a security, it was much more a payment mechanism and stored value,\u00bb says SEC Chairman Jay Clayton on <a href=\"https:\/\/twitter.com\/hashtag\/btc?src=hash&#038;ref_src=twsrc%5Etfw\">#btc<\/a>. \u00abOur current payment mechanisms\u2014have inefficiencies those inefficiencies are the things that are driving the rise of bitcoin.\u00bb <a href=\"https:\/\/t.co\/3r1mxzfgpi\">pic.twitter.com\/3r1mxzfgpi<\/a><\/p>\n<p>\u2014 Squawk Box (@SquawkCNBC) <a href=\"https:\/\/twitter.com\/SquawkCNBC\/status\/1329420012080295939?ref_src=twsrc%5Etfw\">November 19, 2020<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/us-sec-chief-jay-clayton-to-step-down-by-year-end\">Departing<\/a> from his post in December, the official confirmed the position that Bitcoin is not a security, but may be perceived as a store of value and a means of settlement.<\/p>\n<p>Under Clayton&#8217;s tenure, the SEC rejected nine applications to launch Bitcoin-based ETFs.<\/p>\n<blockquote>\n<p>\u00abI believe that Bitcoin will become more mature, and we will see greater regulation of its payment functions,\u00bb he predicted.<\/p>\n<\/blockquote>\n<p>The latter, the official said, will be a task for the Internal Revenue Service and the Financial Crimes Enforcement Network (FinCEN), as the Commission&#8217;s remit is different.<\/p>\n<p>Clayton noted that the SEC regulates instances where digital assets are used to raise funds. For instance, the Commission has often treated ICOs as offerings of unregistered securities.<\/p>\n<p>Recently, Clayton <a href=\"https:\/\/u1f987.com\/en\/news\/sec-chairman-does-not-rule-out-tokenised-etf\">stated<\/a> that the regulator is prepared to consider the possibility of creating tokenised ETFs.<\/p>\n<p>ForkLog <a href=\"https:\/\/u1f987.com\/en\/news\/gary-gensler-former-cftc-chief-joins-biden-transition-team\">reported<\/a>, that former CFTC chair Gary Gensler will head Biden&#8217;s transition team on financial policy. He will join the group tasked with assessing the work of the Federal Reserve, banks and market regulators such as the SEC.<\/p>\n<p>Subscribe to ForkLog&#8217;s news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The head of the U.S. Securities and Exchange Commission (SEC), Jay Clayton, told CNBC that interest in the first cryptocurrency is based on the &#8216;inefficiencies&#8217; of current payment systems.<\/p>\n","protected":false},"author":1,"featured_media":32077,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1138,128],"class_list":["post-32076","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-opinions","tag-sec"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32076","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=32076"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32076\/revisions"}],"predecessor-version":[{"id":32078,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/32076\/revisions\/32078"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/32077"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=32076"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=32076"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=32076"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}