Amid this, Bitcoin prices rose higher on Monday as investors’ confidence in blockchain technology increased after comments from US Securities and Exchange Commission head Jay Clayton.
At a virtual event on Friday, Clayton commented that he is open to the possibility of tokenizing stocks adding that the current regulatory framework may be sufficient for such projects.
If you’re not trying to finance your network, you’re not trying to give people a return on your network, it’s probably not a security. But if what you’re trying to do is finance your network with your token or provide people with a return for using the network with your token, you look at the traditional tested security, it’s pretty clear it’s a security, Jay Clayton.
The price of Bitcoin increased by about 1% across major exchanges over the past 24 hours to trade at a high of $10,775.