Thread by @panekkkk

/1

Some interesting comments from SEC Chairman Jay Clayton during talk about #cryptocurrency regulation at Princeton. #ClaytonCrypto #Ethereum #Bitcoin

1. SEC is starting from the principle that DLT has incredible promise

bit.ly/2FqmEuN
bit.ly/2q7hqhX

/2. SEC are still trying to wrap their heads around this -- "where does our jurisdiction begin?"

bit.ly/2JlDMEx
bit.ly/2uRpgBa

/3. However, they need to enforce regulation to actually prevent regulation from becoming too severe due to the immense risk of fraud in crypto

bit.ly/2IuZdSf

/4. This means a balanced approach by going hard after the biggest frauds

bit.ly/2q7hqhX

/5. "Does that mean all ICOs are bad? Absolutely not." #Bullish

bit.ly/2uRpOac

/6. But he's not concerned about regulations forcing startups overseas

bit.ly/2qaP99t

/7. Although seemingly a misstep, I think he's referring mostly to frauds here. Legitimate ICOs in his view will simply register with the SEC.

bit.ly/2GUGFhn

8/. Correction. Very first link on potential of DLT should be this:

bit.ly/2qaeeCn

Not being able to edit destroys my soul.

gph.is/2j5iWuU

/9. Also states that utility tokens may evolve towards or away from a security over time

I would think evolution towards a security would not be possible since so much of Howey depends on manner of sale and facts and circumstances that surround it.

bit.ly/2H1NjST

/10. The SEC's mandate is to regulate securities transactions but the nature of crypto as a means of exchange and currency may change the way regulators approach currencies

bit.ly/2H11RlQ
bit.ly/2q4mqnJ
bit.ly/2Jn5qBd
bit.ly/2Enk6fM