Sounding more bullish on the cryptocurrency than he has in years, U.S. Securities and Exchange Commission Chairman Jay Clayton said Thursday the inefficiencies of modern payment systems are “driving the rise of bitcoin.”
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SEC’s Clayton says payment inefficiencies are boosting bitcoin’s rise
Speaking on CNBC, Clayton, who's stepping down at the end of the year, said: "What we are seeing is that our current payment mechanisms domestically and internationally have inefficiencies. Those inefficiencies are the things that are driving the rise of bitcoin (BTC, +1.34%)."
