SEC chief says agency won’t change securities laws to cater to cryptocurrencies
The head of the Securities and Exchange Commission Chairman made it clear Wednesday that the agency won't be bending the rules for cryptocurrency when it comes to defining what is or what isn't a security.
"We are not going to do any violence to the traditional definition of security that has worked for a long time," SEC Chairman Jay Clayton told CNBC Wednesday.
The agency is also not adjusting rules for initial coin offerings, and Clayton underlined that tokens or digital assets used in that fundraising process are securities.