Pro-Bitcoin Regulator to Replace SEC Chairman Jay Clayton

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Jay Clayton ended his term as the Securities and Exchange Commission (SEC) Chairman on a high note for crypto, filing a major lawsuit against Ripple.

Now, SEC Commissioner Elad Roisman, a pro-crypto regulator, is about to fill the vacancy.

Elad Roisman to Lead SEC

Jay Clayton served his last day in the SEC this week, having served as its Chairman since May 2017. In his last public statement, thanked his subordinates for their service and left on a positive note.

SEC’s lawsuit against Ripple on the last day of the post speaks volumes of Clayton’s attention toward crypto. Since taking over, the SEC has weeded the ICO’s appetite from the crypto markets and established that Bitcoin and Ethereum not guarantees.

Nevertheless, he will also be remembered as the Chairman who never approved a Bitcoin ETF. A new chair now has an opportunity to change that.

President Trump had two choices, Hester Pierce and Elad Roisman, for the position of new Chairman. Both candidates favor cryptocurrency investors – Pierce was one of the first regulators to dissent SEC rejects Bitcoin ETFs.

Elad Roisman joined the SEC as Commissioner in September 2018.

In July of the same year, Roisman had raised the issue of auditing and re-examining the Commission’s rules, regulations and guidance on “new investments and technologies as initial offerings of coins and blockchain.”

The crypto industry can expect more clarity and cooperation from the commission, with hopes for a Bitcoin ETF back on the table as well.

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