SEC Official Overhears Chairman Clayton's

SEC Official Walks into Chairman’s “Heated Discussion”, Praises Him for His Dedication

An extract of the Securities and Exchange Commission (SEC)’s June meeting on evaluating cryptocurrencies was released. Based on the extract, it appears that the SEC official, Eric Werner walked into a heated discussion that went on between the Chairman of SEC, Jay Clayton and an unnamed individual.

Werner specifically spoke of the time that he was first introduced to Clayton and shared his thoughts on what he believes the latter’s work ethics are like. Apparently, the heated discussion took place with an

“attorney in my [Werner’s] office about the legitimacy and viability of cryptocurrencies.”

He said he was surprised by the way in which Clayton broke down the issue at hand (ICO and cryptocurrency). The level of importance Clayton gives to each problem presented to him, according to Werner, is always equivalent. As per his quotes, Clayton:

“has given every single issue that he has confronted that same dedication and thought process.”

As for the classification of cryptocurrencies and ICOs, the SEC Chairman has finalized back in February that the two should not be considered one, but two different concepts depending on what is being offered. In particular, he said:

“I want to go back to separating ICOs and cryptocurrencies. ICOs that are securities offerings, we should regulate them like we regulate securities offerings. End of story.”

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