Former SEC Chairman Jay Claton Becomes an Advisor to a Bitcoin Fund Manager

The former chairman of the United States Securities and Exchange Commission (SEC), Jay Clayton, will be serving as an advisor to One River Asset Management, a company behind a $2.5 billion Bitcoin fund.

One River Appoints Clayton as Regulatory Advisor

According to Bloomberg’s report on Monday, Jay Claton has been appointed to serve as regulatory advisor to the digital assets manager. Besides the former SEC chairman, two other government officials, Kevin Hassett and Jonathan Orszag will be joining One River for the same role. Hassett served under President Donald Trump’s administration as the chairman of the Council of Economic Advisers, while Orszag is an economic consultant who previously worked in the Clinton administration.

The digitization of our financial ecosystem isn’t just coming, it’s already here. Three years ago, I didn’t believe we would be where we are today – the number of respected investors who have embraced digital assets. I would not have predicted this level of take-up.

Jay Clayton

However, Clayton noted that the development today doesn’t translate to a change in view on the importance of the rule of law and of regulation for the digital currency space or any other industry.

I see a wide range of outcomes for digital assets that include strong government regulation, domestically and globally. The time frame is uncertain, but I expect there will be international coordination if not international consensus around digital assets.

Jay Clayton

About One River Asset Management

One River reportedly began purchasing Bitcoin back in November, when the cryptocurrency was still trading around $15,000. From $1 billion in Bitcoin then, the company currently sees about $2.5 billion in Bitcoin under management. The CEO at One River, Eric Peters, seems to believe in digital currencies more as a store of value and inflation hedge rather than alternatives to fiat currencies.