Bitcoin has not been classified as a security for a long time according to the former U.S Securities and Exchange Commission chairman, Jay Clayton.
The status of Bitcon as a non-security, does not make it immune from imposition of new regulation, which may be coming soon.
Clayton speaking on Squawk box opined that:
That regulation, both international and domestic determines where digital assets land at the end of the day and the regulation will come handy soon both directly and indirectly.
Clayton pointed that the reason SEC did not take a position when he was chairman of SEC is because the asset has not been declared a security when he was there. The aforementioned was mentioned by Clayton when he was asked the question by the anchor of the programme, Andrew Rose Sorkin.
Clayton since the expiration of his tenure at US SEC has been in the industry and is currently with One River Asset management as their adviser on Cryptocurrencies.
Although he professes not to have any special insights into what new laws are coming from his time heading up the SEC, he believes the regulatory environment is due for a shake up.