On July 19, Jay Clayton, S&C Senior Policy Advisor and Of Counsel and former Chairman of the Securities and Exchange Commission, spoke at Bloomberg’s Crypto Summit on the state of regulation of digital assets, including cryptocurrencies, stablecoins and digital asset securities, in the United States and globally.
Jay also addressed the recent volatility in the industry and commented that what we are seeing is not new, but age-old regulatory lessons playing out in a new market. He also spoke about the difficulty of regulating digital assets, since it requires global coordination across a new asset class at the retail level, and believes that providing a clear path for the adoption of stablecoins and rules for crypto custody will be critical steps if we are to see widespread adoption of distributed ledger technology and “tokenization”.
Click here to watch the full discussion.