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Jay Clayton serving on the advisory board of Fireblocks (a Nexo custodial partner)


jag216
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https://www.fireblocks.com/blog/us-sec-chairman-joins-fireblocks-advisory-board/

Now the interesting thing about this article is that it outlines quite a few things about Jay's philosophy of governance.

Oh and also interesting this company provides a lot of ERC-20 token support.

Some interesting pieces:

Quote

Speaking generally, Clayton observed that three categories of people tend to emerge in response to any new technology:

Incumbents. According to Clayton, there are the incumbents who may want to resist the rise of new technologies.

Challengers. Then, there are the challengers who claim that the new technology is so promising that it’s adoption should not be impeded and regulatory frameworks should yield. According to Clayton, this approach works every once in a while, particularly when existing regulation is outdated or ineffective, but it certainly shouldn’t happen in financial services because it’s systemically important and generally highly effective.

Users. The last category are the users of the technology; the users cover a wide spectrum of perspectives but generally skew more conservative. What many want to know is, “Does the technology work well and am I safe from a regulatory point of view?” According to Clayton, in the digital asset space, we should evolve toward a state of affairs the users can be comfortable from a functional as well as a regulatory point of view while using digital assets – especially if we marry these concepts by implementing a function-based approach to regulation as opposed to a form-based one.

And then:

Quote

When it comes to how Fireblocks fits into the broader digital asset journey, Clayton views the platform as striving to provide productivity and efficiency enhancements in the core of the digital asset infrastructure.

“I think the technology has a chance to be part of a step change in terms of eliminating frictions and enhancing performance, including regulatory performance,” Clayton said. “It’s like replacing hand-to-hand toll-takers and coin baskets with E-ZPass – we don’t even think about it anymore. But I can’t imagine what the efficiency savings from E-ZPass are just in terms of hours saved for people.”

The op-ed they refer to is further discussed here:

https://coinjournal.net/news/former-industry-experts-see-no-need-for-new-crypto-regulations/

Interesting that Clayton and McIntosh see Gensler as viewing the crypto space as being more lawless than they do.

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Also curious how the SEC go after Coinbase – specifically for their loans product (paying ~4% I believe?), yet they seem ok with Nexo ("Fireblocks – a Nexo custodial partner") paying out much more than that. Then again, not sure if US citizens can access Nexo. But still... coincidence maybe, but smells kind of fishy. 

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36 minutes ago, thinlyspread said:

Also curious how the SEC go after Coinbase – specifically for their loans product (paying ~4% I believe?), yet they seem ok with Nexo ("Fireblocks – a Nexo custodial partner") paying out much more than that. Then again, not sure if US citizens can access Nexo. But still... coincidence maybe, but smells kind of fishy. 

It seems like every week Nexo stops playing interest in another US state.

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