Former SEC Chairperson Jay Clayton said on Wednesday that Congress could pass legislation to regulate cryptocurrencies under Trump. Clayton also said he favors easing regulatory burdens to encourage companies to go public, heralding a broad change in public policy that the industry is currently looking forward to, as they spend heavily to influence this month's presidential election.
Jay Clayton, former chairperson of the Securities Exchange Commission, told CNBC: "If Elon Musk wants to use 20 per cent of his energy to make America better, we should figure out how to get Musk to do that, we should have ethical rules, transparency, etc., but it shouldn't prevent Elon Musk from joining the Trump administration."