Jay Clayton, speaking on CNBC’s Squawk Box program, shared with viewers concerns about the current SEC administration’s biased approach to regulating the U.S. crypto industry.
Clayton, the current senior policy adviser to Sullivan & Cromwell, criticized the SEC’s aggressive approach. The Commission is now using the court system to prosecute cryptocurrency companies, the former chairman said, and under Gary Gensler, the regulator is knowingly exceeding its authority.
“The SEC demonstrates a profoundly un-American approach when it says that if we’re not losing cases, that means we’re not suing enough companies,” Clayton resented. – But I ve been saying that for a long time, and I continue to believe that many, if not the vast majority, of digital assets fall within the definition of a U.S. security.
Earlier in the day, his opinion on Gary Gensler’s possible political engagement was reported by Sen.
Cynthia Lummis and attorney
Ripplt attorney John Deaton.