Ex-SEC Chair Sees Crypto Following Existing Legal Framework

Former top securities regulator Jay Clayton sees existing U.S. regulations as a solid precedent for rules about cryptocurrencies.

Clayton -- who spent several years as chairman of the U.S. Securities and Exchange Commission -- is joining the advisory board of Fireblocks in the latest recruitment by a crypto firm preparing for greater government oversight. The company’s platform specializes in digital assets used for payments, gaming and non-fungible tokens, or NFTs.

Jay Clayton

Photographer: Andrew Harrer/Bloomberg

“New technology should not cause us to change the fundamental protections in our securities and other financial markets,” Clayton said in emailed comments. In terms of crypto provisions currently ...