Jay Clayton, chairman of the Securities and Exchange Commission (SEC), financial regulator in the US, announced that he will be leaving his post at the end of this year. The departure of Clayton, whose term of office normally expires in June 2021, was interpreted as a positive development by Bitcoin (BTC) supporters.
Jay Clayton; He was appointed SEC chairman by Donald Trump in May 2017. Since taking office, Clayton has denied every single exchange-traded fund (ETF) application for Bitcoin (BTC) without exception. The announcement of Clayton that he will leave the presidency at the end of this year is “Does the ETF come to mind?” brought the question.
It is not clear who will be replaced
Jay Clayton was normally eligible to hold office until June 2021. But Clayton has announced that he will step down after Donald Trump loses the presidential election and Joe Biden declares victory.
In announcing his resignation, the SEC’s president thanked Donald Trump himself, Treasury Secretary Steven Mnuchin, Fed Chairman Jerome Powell, CFTC Chairman Christopher Giancarlo, FDIC President McWilliams.
It is not yet known who will fill Clayton’s seat. However, it seems likely that the person to be appointed as SEC president will be a name close to the Joe Biden government.
Hoping that the comer will not look for the one who goes
They believe that Jay Clayton, the leading names in the cryptocurrency community, will be a positive development for Bitcoin. Galaxy Digital CEO Michael Novogratz touched on this in his June 2020 interview with CNBC. Reminding that the SEC has not accepted any Bitcoin ETF applications so far, Novogratz explained that this could change with Clayton’s departure. Novogratz said we would be more likely to see the Bitcoin ETF if Clayton leaves office.
He’s not the only person who thinks Jay Clayton’s resignation would be good for BTC. CrunchBase and TechCrunch founder Michael Arrington also tweeted in June this year, saying, “Jay Clayton’s departure from the SEC benefits the cryptocurrency industry.”
Whatever else, Jay Clayton leaving the SEC is a win for crypto and sound money fans across the world. Hopefully he does less damage as a US atty https://t.co/1mjo6zEIrj
— Michael Arrington (@arrington) June 20, 2020