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Recently, the former Securities and Exchange Commission (SEC) chair Jay Clayton has asserted his views on the ongoing debate of the cryptocurrency sector of whether crypto assets are securities or not.&nbsp;



Clayton suggests that cryptocurrencies, considered securities today, may no longer be classified as securities in the future. In other words, their status as securities can change over time.



On Friday, during his appearance on CNBC, Clayton made statements that could confuse industry professionals seeking clarity on whether various tokens are securities or commodities as the SEC and <a href="https://www.cryptopolitan.com/?s=CFTC+&amp;post_type=post">CFTC </a>continue to compete for jurisdiction over crypto assets.



The struggle for jurisdiction has been ongoing, and Clayton&#8217;s comments will likely add further complexity to the issue.



The lack of a clear regulatory framework for cryptocurrencies has made it difficult for market participants to determine the legal status of various tokens and has led to uncertainty and confusion.



The reports indicate that the former chair of the SEC shares the same perspective as the current chair of the SEC regarding the nature of digital assets. Gensler views<a href="https://www.cryptopolitan.com/?s=what+is++Bitcoin&amp;post_type=post"> Bitcoin</a> (BTC) as a commodity, while considering all other digital currencies as securities.



During a Financial Committee held earlier this week, the SEC chair did not give a clear answer on whether Ethereum (ETH) is an asset or a security.



When CNBC posed the same question, Clayton stated that a security&#8217;s classification could change from being a security to not being one. The Former SEC chair emphasized that the status of an asset as a security is not necessarily fixed and can be subject to change.



Clayton supported William Hinman&#8217;s 2018 <a href="https://www.sec.gov/news/speech/speech-hinman-061418" rel="nofollow noopener" target="_blank">speech</a>, which proposed that the best way to determine whether a crypto asset is a security is to examine how it is sold. Hinman had stated that the ongoing sales of Ether did not qualify as securities transactions. Clayton agreed with this perspective.



The SEC&#8217;s ongoing legal battle with <a href="https://www.cryptopolitan.com/ripple-labs-vs-sec-agency-could-lose/?swcfpc=1">Ripple Labs</a> over the classification of XRP as security has been a matter of concern for some time now. In addition, the regulatory body has turned its attention towards Coinbase with a Wells notice related to possible securities violations. Despite the length of the Ripple lawsuit, the SEC has yet to reach a final decision on the matter.



The Wells notice received by Coinbase indicates that the SEC is scrutinizing the company&#8217;s operations for any potential breach of securities regulations. This has been a source of apprehension for Coinbase and other players in the cryptocurrency industry. It remains to be seen what the outcome of this situation will be.

Former SEC Chair Jay Clayton suggests cryptocurrencies may not always be securities

Cryptopolitan_News

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