SEC Chair Clayton: Crypto ETF Needs Exchanges ‘Free From Manipulation’ ByNikhilesh DePRO INVESTOR Updated: 04 October 2021 DisclosureWe sometimes use affiliate links in our content, when clicking on those we might receive a commission – at no extra cost to you. By using this website you agree to our terms and conditions and privacy policy. Token issuers looking to fund their businesses with the proceeds should “start with the assumption that it’s a securities offering,” according to the SEC’s Jay Clayton.