Jay Clayton, the chairman of the U. S. Securities and Exchange Commission (SEC), has affirmed today that he is very optimistic about the developments of the distributed ledger technology (DLT), which is another way to call the blockchain technology, a name more often used in the crypto space than by mainstream financial companies.

According to Clayton, the DLT technology can help to facilitate capital formation in the country. He spoke this during the U. S. Senate Committee on Banking, Housing and Urban Affairs. He also affirmed that the technology can have very promising investment opportunities for institutional and retail investors should they use it.

He affirmed that the SEC will oversee many of the regulatory and policy agenda over the past fiscal year and that there is a whole plan elaborated for 2019. According to him, the agency was mostly focusing a lot of attention and many resources on Initial Coin Offerings (ICOs) and the blockchain, which they deem as especially important to regulate.

The main reason why he described himself as someone optimistic in the industry is that he has been interested in how the sector can foster innovation and provide investment opportunities. The only point that is currently lacking is the protection for the investors and what was described as a “balanced regulatory approach”.

Part of the changes that the SEC is making to assure that 2019 runs smoothly like evaluating whether digital assets are securities or not to help the market or to appointing Valerie A. Szczepanik as the senior advisor for digital assets and innovation.

The SEC has also created a dedicated Strategic Hub for Innovation and Financial Technology recently, which was created as a way to open the doors for the entrepreneurs who try to innovate and raise capital via ICOs or similar ventures but want to do it within the boundaries of the laws in the country.

This way, the SEC would be able to create a considerably more stable environment for cryptos, ICOs and the DLT/blockchain technology. With the oversight of the agency and a proactive stance, Clayton believes that ICOs can be effective they only need regulation to work better and lawfully.

It looks like 2019 will be the year in which the SEC will finally stop to be seen as an enemy of the cryptos and will start to build a future together with the traders as the market gets regulated.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

154 +