Former SEC Chief Jay Clayton Expects Crypto-Friendly Legislation Under Trump Administration
Jay Clayton expects new cryptocurrency regulations under Trump’s administration, aimed at supporting industry growth and streamlining regulations. Read more.
Jay Clayton, the former U.S. Securities and Exchange Commission (SEC) chair, shared his outlook for cryptocurrency regulation, suggesting that Congress is poised to introduce crypto legislation under President-elect Donald Trump’s upcoming administration. Speaking in New York on Wednesday, Clayton—who may take on a high-ranking role in Trump’s administration—emphasized his belief that crypto legislation could finally gain traction.
“We’re likely to see crypto legislation,” Clayton told a gathering of securities attorneys. He noted that addressing core issues within the crypto industry at the executive and administrative levels would likely smooth the path for these laws to take shape.
The regulatory environment for cryptocurrency has been challenging under the Biden administration, which has focused on stringent enforcement actions rather than clear regulatory frameworks. The industry, which invested heavily in shaping the 2024 election, is now hopeful that Trump’s administration may support a friendlier stance on crypto innovation and market growth.
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In addition to cryptocurrency, Clayton pointed to broader regulatory shifts he believes are needed to revitalize public markets. He criticized recent SEC rules, such as mandatory disclosures on climate-related costs, arguing that they add unnecessary burdens that could deter companies from going public. “When companies face mandates to gather extensive data that’s unrelated to their core business, they might think twice about entering public markets,” Clayton commented.
He further urged regulatory bodies to reassess certain policies in light of recent Supreme Court decisions that limit executive power. According to Clayton, these rulings suggest that agencies should evaluate existing litigation and regulations to determine their continued relevance and impact.
When asked if he would consider joining Trump’s cabinet, Clayton remained reserved on specifics but signaled his willingness to contribute. “If asked to serve in a role where I could make a difference, I’d say yes,” he added.
Also Read: Trump’s Re-Election Sparks New Hope for Crypto, Says Coinbase CEO
