Jay Clayton calls Bitcoins: a replacement for sovereign currencies

Jay Clayton calls Bitcoins a replacement for sovereign currencies

The Chairman of the Securities and Exchange Commission (SEC), Jay Clayton detailed as to why Bitcoins are not recognized as a security in a recent interview. He highlighted on the nature of cryptocurrencies, “These are replacements for sovereign currencies, replace the dollar, the yen, the euro with Bitcoin. That type of currency is not a security.”

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