Crypto Bully Jay Clayton to Leave SEC by Year End

jay clayton

The chairman of the Securities and Exchanges Commission (SEC), Jay Clayton, is finally to leave his position by year end according to a statement by the SEC. Sworn in on May 4, 2017, Clayton led a crusade against cryptos, denying a bitcoin ETF at the last minute in very much a calculated slap with SEC denying during his tenure even crypto ETFs for accredited investors. During his three and a half years as chair, he bullied crypto projects by opening numerous investigations and by threatening lawsuits, costing hundreds of millions to a native innovative industry. In the process, he chocked innovation, driving it out of the United States to the embrace of the European jurisdiction which is now proposing a legal framework for tokenized stocks. Clayton’s SEC instead told entrepreneurs and innovators: “we won’t innovate for you” during a draconian period when $1 billion was taken by SEC in fines,…

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