and Banks in Canada will not allow you to spend your hard earned money on crypto (sending to exchanges by electronic funds transfer for example- or credit cards refusing crypto transactions as well) but you can go get drugs, alcohol, lottery tickets - no one tells me where I can spend my money. I earn it. I can burn it.
Why is it ok to spend my whole paycheck on lottery tickets but I can't get into ico's. We are not smart enough to buy into ico's but we are smart enoug to buy lotto tickets. Makes sense to me
Lottery tickets aren't a security that is regulated by the SEC. Do you know what SEC stands for? It's the fact that ICO are presented as a opportunity to make money when people adopt the currency, they aren't a business with tangible assets and operations that produce a return for the investors. They only make money when people buy and the prices go up.
Notice that he keeps saying our investors. That's not including any average American. This is how socialized wealth works people, watch and learn how you are being screwed over.
Well, he makes a solid point. He mentioned how leverage was a source of some serious problems we had like private labeled MBSs and how it eventually evolved to CDOs. If prevention is his job, then he’s doing it well. Unfortunate as it may be to innovation, ultimately it comes down to the new tech having to fight their way to the top. Game theory 101, it’s a solid approach to weed out bad actors. The next struggle after that is making sure the ones we allow to play, steer away from becoming bad actors. As the saying goes, there’s a process.
Ya Jay you’ve been doing this a long time , but you ain’t been dealing with crypto for very long. You’re obviously threatened by crypto. You can’t use rules from an outdated game for a new one. New game, new rules
Anybody correct me if I'm wrong but after this interview I felt and realised SEC won't aprove BTC ETF in August or September, mainly because of uncertainty on its price; still too big volatility in this relatively young market! He said it twice in the interview for the ones really paying attention at 5:50 and 6:47....and I understood he is also afraid that unseeing leverage while investing in bitcoin after ETF approval can become a huge issue. Did I get it wrong?
i 100 % agree with you i stay in america and they say its the land of the free what a joke. its land of the free for the rich people thats about it. cant wait to get my passport to move to the philippines soon some times this year.
It used to be called that way and that’s what the founding fathers fought for. The last president who tried to hold the country sane and together was JFK. Sad that it turned into this today.
This guy filed a lawsuit on his last day in office. Then went on to work for a company that made a large investment in a direct competitor to the very company and crypto that he sued. While also lying on national television about possible conflicts of interest. Very shady stuff going on at the Scrutiny and Enforcement Commision
The key, tky, is verification for securities on the blockchain... Just partnered with China's government for verifying assets and welfare verification. Might be a big contender in the security verification space for crypto.
we re in 2018 lets not make the same mistake we've made with our educational system in the financial market. rules and regulation must change with time. example. rules and regulation for autonomous vehicle should not be the same as on man vehicle
Sure. We like to know that our personal information like social security number, credit card numbers, etc. were compremised when that happened, not 6 months later.
if you have been doing this along time and dont plan to change the laws when clearly the landscape has changed, your a dinosaur and your old laws will cripple growth in a thriving innovative new market, thanks JAY!!!, and im an electrician and have been for 15 years, and i want to be able to spend MY VERY HARD EARNED MONEY WHEREVER I WANT TO!!!!!!!!!! i dont need to be an accredited investor to spend $100 on a company i believe in.
The thing is, if the token/coin you purchase at ICO stage, can be used to purchase a product or service in the companies ecosystem, then in fact it can't be classed as a security. In most scenarios identifying whether people bought into a specific project for the sole purpose of profit or to purchase a license, product or service is subjective, so it seems to me that true regulation of ICO's is next to impossible.
Reasonable thoughts from the chairman here. Agree or disagree with the SEC and the idea of regulation, you shouldn't ever expect that they're going to treat these not as securities. They're securities. I wish there weren't so many people trying to buy these scam ICOs or the issue wouldn't even come up lol
yeh, they built a 19Trillion market that is collapsing as we speak. It is starting now in UK and then Italy and US is not far behind. I don't like this guy one bit.
☘️☘️too right .. I feel the same and saw right through him ☘️☘️ call it intuition 💚💚 roll on Crypto Currency 💚💚Crypto Granny U.K.and Ireland for my grand children’s future
When you hear him talk about crypto he makes no sense, he clearly has no idea what he's doing - or he *knows* there's nothing he CAN do. Asking people to pre-register their ICOs with the SEC makes no sense. They are only securities if you go through the SEC, the definition is completely circular.
Notice SEC guy cringes after interviewer says "Ripple." cause he knows he is going to hurt Mary Jo and her friends when they deem XRP a security. Even the CNBC reporter has not made the distinction between Ripple the company, and XRP the token...not a good sign.
His comments make me think that the SEC are still very wary or distrustful of Bitcoin, at least at this stage... It doesn't seem to fit the mold well enough for them.
Rob Bezimienny so it has failed? I've always seen it as a store of value. I've never thought it would replace USD. 10 years later BTC is the slowest most expensive replacement for fiat known to man.
These laws need to change... Securities = We don't want the average joe to make money... Plz let this decentralization go wild! Bitcoin was made to free us, that is why it was open source.
Can Jay Clayton say anything besides we've been doing this for a long time and we're not going to change anything like the saying racing the easiest thing to change is a seat belts in other words Jay hit the road
You mean #Ethereum. Gotcha. Oh, you never did go after #eth tho. Hmmm. Liar. Ethereum had an ICO yet nothing happened to them. Ripple, never had an ICO yet the SEC is going after them. This guy is a joke.
He defined ethereum perfectly. Way to go scum bag. What's scary is how he can smile and lie at the same time. So is Bob the regulator? He just told Bob, the interviewer, that he captured the definition very well after stating how he wouldn't comment on any specifically. It's like listening to a 5 year old lie about not eating cookies, but has crumbs and chocolate smeared across their face.
Innovators are not asking you to relax rules we asking you to explain yourself with clear guidelines that issuers need. Get off your high horse because the people who build the innovation in the US you claim your responsible for did it in exempt transactions and exempt securities that need a bright line or wait for the SEC to pull the rug out from under them and claim fraud. Get real you the king of late action to recognize area you don't regulate. Quite Frankly, your financial system just stole 20 trillion dollars from consumers indirectly so wake up people.
We don't need regulation... crypto can regulate our selves over time by integrating investments through smart contracts where investment funds only will be lease to projects according to their roadmap and production of the product they are producing
OSR 1 these jackasses couldn’t answer a simple question if their lives depended on it. Probably buying up hundreds of thousands if not millions of tokens behind the scenes
![OhGeesy x Lefty Gunplay - What It Iz [Official Music Video]](http://i.ytimg.com/vi/L0yzW9t2ixk/mqdefault.jpg)
Make sure only accredited rich people can participate Jay. "We've been doing this a long time". Yes we know.
thats why i am moving to the philippines. and fly back and forth to work in the usa.
Agreed, what a joke.
Acreddited literally means that you are rich - 1m$ or more net worth - to legally invest in anything ;|
how anyone wonders why the poor stay poor... That law right there is why ^
Technium ..... Could not have said it better.
"Thanks for being here".
You're the one being interviewed guy.
Shows his arrogance.
😂😂👍
Go get em this year Carson
Carson Wentz the interview was held at the SEC headquarters in Washington so Bob and CNBC were the ones who had to travel out to them.
Zack J He doesn't seem to understand.
ruclips.net/video/kZ6db_hZnu0/видео.html
Just because a system has worked for many years does not mean they work forever.
Is this a commentary about bitcoin?
@@NightmaresForRobots SEC. I blv he was mentioning sec
@@danneyantony sarcasm Chief.
I'm a retail investor, paycheck to paycheck. I feel threatened by the SEC, not protected.
Same but the goods news is they cant take our crypto, they can keep their stocks for rich only.
why should anyone have the right to tell me how I can spend my money
exactly!!!
and Banks in Canada will not allow you to spend your hard earned money on crypto (sending to exchanges by electronic funds transfer for example- or credit cards refusing crypto transactions as well) but you can go get drugs, alcohol, lottery tickets - no one tells me where I can spend my money. I earn it. I can burn it.
Why is it ok to spend my whole paycheck on lottery tickets but I can't get into ico's. We are not smart enough to buy into ico's but we are smart enoug to buy lotto tickets. Makes sense to me
Lottery tickets aren't a security that is regulated by the SEC. Do you know what SEC stands for? It's the fact that ICO are presented as a opportunity to make money when people adopt the currency, they aren't a business with tangible assets and operations that produce a return for the investors. They only make money when people buy and the prices go up.
I don't think you got what I was getting at. Why should the sec have the right to say what I can and can't do with MY OWN MONEY
Notice that he keeps saying our investors. That's not including any average American. This is how socialized wealth works people, watch and learn how you are being screwed over.
this guy is creepy.
If he says "weve been doing this a long time now" one more time lol
Most good ICO projects will leave the US.
That will force them to change the laws.
Is everyone going to pretend this interview wasn't taken in a break room? why not in the bathroom?
Crypto will soon be for only the rich and wealthy
Geeza 1589 wrong, greatest transfer of wealth for people paying attention
only in america.
*murica
I make my own coin and solo mine it find so many blocks so great!
Jay built a 19 trillion dollar market. What would we do without you Jay! You keep up the good work and keep us safe.
Thanks Jay you da bes one!
TON 618 Certified imbecile, lol
You morons lmao
We are going to be behind in technology in the us because of people like him.
Well, he makes a solid point. He mentioned how leverage was a source of some serious problems we had like private labeled MBSs and how it eventually evolved to CDOs.
If prevention is his job, then he’s doing it well. Unfortunate as it may be to innovation, ultimately it comes down to the new tech having to fight their way to the top. Game theory 101, it’s a solid approach to weed out bad actors.
The next struggle after that is making sure the ones we allow to play, steer away from becoming bad actors.
As the saying goes, there’s a process.
Awesome! 15mins of absolutely nothing!!!
He dodged almost every question 🤣
if this guy is involved in bitcoin ETF decisions it's doomed to fail
We bull run now boys?
REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
crash first with SEC ruling due in a month or two
Clayton skirts around specific questions. He's the type of guy you can't trust.
2 and a half years later I can't help but laugh at this clown. He just ripped off all XRP holders. Protecting investors hahahaha good job Clayton!
Jay does not know what he is talking about..
What law passed by Congress makes Cryptocurrencies a security?
Let’s talk about Airdrops. How would the SEC regulate things that are giving out for free
Do not tell them about the drops! LOL So many cryptos drop free coin to bitcoin holders.
Does the SEC have jurisdiction over ICOs outside of USA? Is it just the ICO itself or the token after the ICO is finished?
This dude is clearly unclear with his answers
I love how he explained how 50% is a half. Who would of thought!
The lawyer is "always concerned"? Go figure
Ya Jay you’ve been doing this a long time , but you ain’t been dealing with crypto for very long. You’re obviously threatened by crypto. You can’t use rules from an outdated game for a new one. New game, new rules
Here dec 24th 2020 due to this guy trying to sue ripple then walking away from the job 😂
Haha me too 😂
Anybody correct me if I'm wrong but after this interview I felt and realised SEC won't aprove BTC ETF in August or September, mainly because of uncertainty on its price; still too big volatility in this relatively young market! He said it twice in the interview for the ones really paying attention at 5:50 and 6:47....and I understood he is also afraid that unseeing leverage while investing in bitcoin after ETF approval can become a huge issue. Did I get it wrong?
Why is this guy blatantly lying?
1:50 a gov official indicating the use case of Bitcoin to replace Sovereign Currencies !
The Security Commission chairperson is very charming and extremely intelligent.
Sec is confused on crypto. He looked on fused on certain answers.
What was that sound? Oh...it's innovation leaving the US for crypto friendlier countries for their ICO
There is a big difference between currencies and securties(tokens) invest wisely!
Thank god I dont live in america. Land of the free what a scam.
i 100 % agree with you i stay in america and they say its the land of the free what a joke. its land of the free for the rich people thats about it. cant wait to get my passport to move to the philippines soon some times this year.
It used to be called that way and that’s what the founding fathers fought for. The last president who tried to hold the country sane and together was JFK. Sad that it turned into this today.
This guy filed a lawsuit on his last day in office. Then went on to work for a company that made a large investment in a direct competitor to the very company and crypto that he sued. While also lying on national television about possible conflicts of interest. Very shady stuff going on at the Scrutiny and Enforcement Commision
this guy is so fired for spilling the beans
You are concerned only for the interest of the financial system ! When are you going to jail the manipulators of Gold and Silver markets ?
XRP and ETH are definitely securities.
XRP is premined, Ripple labs holds 60% of all XRP tokens. The question is what Ripple labs do with those tokens?
They manipulate pump and dump their market, just look at their charts, at least 2-3 big bubbles per year.
The key, tky, is verification for securities on the blockchain... Just partnered with China's government for verifying assets and welfare verification. Might be a big contender in the security verification space for crypto.
Tky is a f***in beast bro, same with MAN and TFD, TFD takin extra measures not to be classified as a security!!!!
we re in 2018 lets not make the same mistake we've made with our educational system in the financial market. rules and regulation must change with time. example. rules and regulation for autonomous vehicle should not be the same as on man vehicle
Sure. We like to know that our personal information like social security number, credit card numbers, etc. were compremised when that happened, not 6 months later.
if you have been doing this along time and dont plan to change the laws when clearly the landscape has changed, your a dinosaur and your old laws will cripple growth in a thriving innovative new market, thanks JAY!!!, and im an electrician and have been for 15 years, and i want to be able to spend MY VERY HARD EARNED MONEY WHEREVER I WANT TO!!!!!!!!!! i dont need to be an accredited investor to spend $100 on a company i believe in.
☘️☘️well said my friend ☘️☘️.. this guy is behind the times ☘️☘️ onwards and upwards Crypto Granny UK and Ireland
The thing is, if the token/coin you purchase at ICO stage, can be used to purchase a product or service in the companies ecosystem, then in fact it can't be classed as a security. In most scenarios identifying whether people bought into a specific project for the sole purpose of profit or to purchase a license, product or service is subjective, so it seems to me that true regulation of ICO's is next to impossible.
No one ever even responded to my hacking complaint.....I must not pay enough taxes?
Reasonable thoughts from the chairman here. Agree or disagree with the SEC and the idea of regulation, you shouldn't ever expect that they're going to treat these not as securities. They're securities.
I wish there weren't so many people trying to buy these scam ICOs or the issue wouldn't even come up lol
Bye bye jay #XRP takeover
Totally unqualified as the SEC cannot determine the status of XRP
SEC rules are old
Jay Clayton says Etherium is not a security now he work for Etherium. Dirty 👮♀️
All this time I thought the SEC inhibited the 19 Trillion dollar market. I didn't know they built it!
Did the head of the SEC just call utility tokens securities?
yeh, they built a 19Trillion market that is collapsing as we speak. It is starting now in UK and then Italy and US is not far behind. I don't like this guy one bit.
☘️☘️too right .. I feel the same and saw right through him ☘️☘️ call it intuition 💚💚 roll on Crypto Currency 💚💚Crypto Granny U.K.and Ireland for my grand children’s future
This video did not age well....
"Do you have anything to say at all other then how long the SEC has existed?"
"Weve been doing this a long time."
Wow what a useless video
Should I sell all of my alts and put it all on bitcoin????!?!?!??
L 05 yes or bet on xrp or eth quickly the outcome will make a mooner fer sure do it!!!
Hi I'm from the future, yes but sell BTC on the morning of April 15, 2021 😂
Isn't Bernie Madoff a previous head of the SEC?
When you hear him talk about crypto he makes no sense, he clearly has no idea what he's doing - or he *knows* there's nothing he CAN do. Asking people to pre-register their ICOs with the SEC makes no sense.
They are only securities if you go through the SEC, the definition is completely circular.
he is interested in what happening not what they are showing
Is dollar a security? You can't regulate crypto: crypto will regulate your ass.
Lost all respect for this man on the Ripple lawsuit !
Follow the money !
Can't the SEC except KBC Coin from Karatbars International since they are backed by gold?
Notice SEC guy cringes after interviewer says "Ripple." cause he knows he is going to hurt Mary Jo and her friends when they deem XRP a security. Even the CNBC reporter has not made the distinction between Ripple the company, and XRP the token...not a good sign.
His comments make me think that the SEC are still very wary or distrustful of Bitcoin, at least at this stage... It doesn't seem to fit the mold well enough for them.
Did he say BTC was ment to replace fiat currencies? Since when?
Since 2008 when it came out go read Satoshis white paper.
Rob Bezimienny so it has failed? I've always seen it as a store of value. I've never thought it would replace USD. 10 years later BTC is the slowest most expensive replacement for fiat known to man.
I am a Crypto Comedian and i watched this.
Stop taking on Musk, you've got no chance.
This seemed totally scripted and sec guy kept forgetting the script... Love the way he says "dark web" and hacking twice... Very sensual.
So my NXS is safe?
These laws need to change... Securities = We don't want the average joe to make money... Plz let this decentralization go wild! Bitcoin was made to free us, that is why it was open source.
"we are not going to do any violence" What the heck? Why would he use that word? AT least this was a good interviewer.
Well then ETH is a security based on that definition.
Bitcoin was $7000 2 years ago 😳 its selling at 37000 now
You regulate securities in the US! Keep snoozing bud.
Lol. So if their not regulating it, it’s a scam. Got it
He's not approving any BTC ETF. thats for sure.
This guy has no idea
Jason Bateman
he boycott XRP ...how about bitcoin and ethereum?
The amount of propaganda in this comment section that is anti-us is way too high.
"We've been doing this a long time" keeping sheep, sheep. While protecting the wolves
seems like a genuine guy😆😆😆
5:30 Check his body language. August 23rd is going to be very interesting indeed.
Can Jay Clayton say anything besides we've been doing this for a long time and we're not going to change anything like the saying racing the easiest thing to change is a seat belts in other words Jay hit the road
these guys people
You mean #Ethereum. Gotcha. Oh, you never did go after #eth tho. Hmmm. Liar. Ethereum had an ICO yet nothing happened to them. Ripple, never had an ICO yet the SEC is going after them. This guy is a joke.
He defined ethereum perfectly. Way to go scum bag.
What's scary is how he can smile and lie at the same time.
So is Bob the regulator?
He just told Bob, the interviewer, that he captured the definition very well after stating how he wouldn't comment on any specifically.
It's like listening to a 5 year old lie about not eating cookies, but has crumbs and chocolate smeared across their face.
He hide XRP document in market cap
Innovators are not asking you to relax rules we asking you to explain yourself with clear guidelines that issuers need. Get off your high horse because the people who build the innovation in the US you claim your responsible for did it in exempt transactions and exempt securities that need a bright line or wait for the SEC to pull the rug out from under them and claim fraud. Get real you the king of late action to recognize area you don't regulate. Quite Frankly, your financial system just stole 20 trillion dollars from consumers indirectly so wake up people.
he clearly underestimates the power of EOS and crypto as a whole. China will dominate the world mark my words
lmao, ipo market is dead because of this guy. keep his fop hands off our ico's
Feels like he is super cable of doing his job.
We don't need regulation... crypto can regulate our selves over time by integrating investments through smart contracts where investment funds only will be lease to projects according to their roadmap and production of the product they are producing
Ico gives ability for some one with out a bank to invest, in what he believes in. just regulate who offering the ico who they say they are.
He wont have his job much longer.
everyone better sell your security tokens and buy btc monero etc
So is Ripple and Ethereum a security or not lol ?
OSR 1 these jackasses couldn’t answer a simple question if their lives depended on it. Probably buying up hundreds of thousands if not millions of tokens behind the scenes
Yeah you heard the guy, passed by BTC and eth quickly and pressed hard about XRP! My friends are all asking!!
Eth should be a security but they (SEC) will not consider it a security due to the amount of losses they would cause to American investors.