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SEC Chairman Jay Clayton: Cryptocurrencies Like Bitcoin Are Not SecuritiesJay recommends that the United States welcome the efficiencies provided by tokenizing payments and the custody of digitals assets. He urges. Clayton isn't new to the crypto space since leaving the SEC. He is an adviser at digital assets custodian Fireblocks and at investment manager. Former SEC Chairman Jay Clayton has reiterated his position that many cryptocurrencies could be defined as securities.