The head of the SEC explained the growth of the bitcoin rate :: RBC.Crypto

Chairman of the US Securities and Exchange Commission Jay Clayton reported on the shortcomings of existing payment systems and recognized the features of the first cryptocurrency that make it a store of value

The existing payment mechanisms have shortcomings, which is a factor contributing to the growth of the bitcoin rate, said the chairman of the US Securities and Exchange Commission (SEC) Jay Clayton. In an interview with CNBC, he admitted that cryptocurrency has features that make it possible to characterize it as a store of value or payment mechanism.

“We have defined bitcoin not as a security, but rather as a payment instrument and store of value. Our existing payment mechanisms are ineffective, this is what has become one of the factors in the growth of the bitcoin rate, “- said Clayton.

According to the head of the financial regulator, cryptocurrencies come into his field of vision when people use digital money to attract capital to their businesses like securities. This happened during the ICO boom in 2017, when there were many unregistered public offerings of securities under the guise of IPO projects.

A few days ago Clayton announcedwho is leaving his post at the end of this year. He became chairman of the SEC in May 2017 by decision of US President Donald Trump.

This fall, the bitcoin rate has risen by almost 80%, having updated the maximum since December 2017 at around $ 18.5 thousand. Now the first cryptocurrency is traded at $ 18.1 thousand, over the last week its price has increased by 12%.

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