The SEC and the crypto-verse go way back. While the crypto industry started out to escape the shackles of the centralized institutional systems, the popularity of the crypto sphere had regulators meddling with it. At present, the value of the crypto industry was at $655.53 billion, this has caused several steering towards the market. As regulators across the world have been setting up rules compliant with the financial system as well as the crypto industry, certain regulators have been exhibiting a hostile nature towards crypto assets. However, a recent change in the US SEC could pose beneficial to the crypto world.
SEC Chairman Jay Clayton Bids Adieu To His Post
The crypto community was ecstatic after Jay Clayton, the United States Securities and Exchange Commission’s Chairman announced his resignation. Clayton, through the course of his service, had constantly declined the proposal for Bitcoin ETFs. In a recent statement, Clayton revealed that he finally spent his last day in the office of the agency on 23 December 2020, as the Chairman. In the statement, Clayton pointed out that he was grateful to everyone in the Securities and Exchange Commission for aiding his growth as the Chairman. His statement further read,
“I know the women and men of the SEC will continue to pursue their mission — protecting investors, maintaining fair, orderly and efficient markets and facilitating capital formation — with passion, professionalism and mutual respect. It has been the honor and privilege of my professional life to serve the public alongside them.”
While Clayton suggested that the SEC would continue to serve its people, Hester Peirce aka Crypto Mom announced the appointment of the successor of Clayton. In a recent tweet, Clayton congratulated Elad Roisman for taking over as the Acting Chairman of the agency. Her tweet read,
Prior to his role as the newest chairman of the agency, Roisman was appointed as the SEC Commissioner back in 2018. He was also the Chief Counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs. While Roisman’s latest role is temporary, the crypto community has been in anticipation of a crypto-friendly chairman.