U.S. Legal and Regulatory News for Digital Asset Holders
Jay Clayton, Economic Club of New York
Jay Clayton says that “the area [of crypto] that is of particular interest to me … is the payment system. Our payment system is inefficient. Domestically it is inefficient. Internationally it is extremely inefficient. So if we don’t work and use technology to address those inefficiencies the market is going to do it for us.” One month later, Clayton’s SEC sued the highest profile market leader providing a solution – Ripple – at a time ConsenSys was moving to directly compete with Ripple.