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SEC Chairman: No need for more securities laws for digital tokens

SEC chairman Jay Clayton speaks at Stanford University Rock Center for Corporate Governance on January 24, 2018. Photo: Justin Sullivan/Getty Images

Securities and Exchange Commission Chairman Jay Clayton doesn't seem to think the U.S. needs additional securities laws to regulate digital tokens, according to his comments on Wednesday at the National Venture Capital Association's annual meeting in D.C.:

If it’s a security, you gotta follow the law. We managed to create an $18 trillion economy following the law, I don't know why we should change the law now.
— SEC Chairman Jay Clayton

Why it matters: The industry continues to grapple with regulatory uncertainty and now it seems that further clarity will come in the form of guidance from the regulators (and the courts) on applying the laws rather than new ones.