Former SEC Chairman Jay Clayton joins crypto advisory board

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Former SEC Chairman Jay Clayton joins crypto advisory board

Three months after resigning from the USA Securities and Trade Fee, or SEC, Jay Clayton has joined the advisory board at crypto funding supervisor



Three months after resigning from the USA Securities and Trade Fee, or SEC, Jay Clayton has joined the advisory board at crypto funding supervisor One River Asset Administration, signaling a altering of the guard for the previous securities regulator. 

Clayton, together with Kevin Hassett of The Lindsey Group and Jon Orszag of Compass Lexecon, joins One River Asset Administration’s newly fashioned educational and regulatory advisory council, the corporate introduced Monday. Though Clayton’s precise position inside the advisory group wasn’t specified, One RIver CEO Eric Peters stated his aim was to carry collectively distinguished people with “various regulatory and coverage expertise.”

“We have been impressed by Eric’s willingness to listen to our various views on the digitization of our financial, banking and capital markets ecosystem and One River’s dedication to transparency,” Clayton stated.

Clayton served a three-and-a-half-year stint on the SEC earlier than resigning on December 23, 2020. His tenure was outlined by a considerable enhance in financial treatments, probably to the tune of over $14 billion, and returning billions to harmed buyers.

He was additionally current over the last cryptocurrency bull market when Bitcoin (BTC) mania reached mainstream buyers. In 2019, Clayton warned buyers they might be “sorely mistaken” in the event that they anticipate that the cryptocurrency could be tradeable on main exchanges with out extra stringent rules in place.

One River Asset Administration emerged as a pivotal Bitcoin participant in late 2020 by scooping up $600 million in crypto property. On the time, the agency stated it expects to personal roughly $1 billion value of BTC and Ethereum (ETH) by the primary half of 2021. These targets could have already been met given the speedy appreciation of crypto property up to now this 12 months.