The outgoing SEC Chairman Jay Clayton, who oversaw the rejection of nine Bitcoin (BTC) exchange-traded funds during his tenure, has told CNBC that “inefficiencies” in the current payments systems are continuing to drive the popularity of Bitcoin.
Appearing on CNBC’s Squawk Box yesterday, Clayton, who is due to step down by the end of the year, confirmed his agency’s general assessment that Bitcoin was not a security but a payment mechanism and store of value.