By CCN: SEC Chairman Jay Clayton has realized something the crypto community has been trying to tell him for years – cryptocurrencies aren’t stocks. In an interview with CNBC this morning, Clayton offered the securities regulator’s latest take on bitcoin, and it seems they appear no closer to providing any clarity for traders and blockchain startups today than they were a year ago. This is a setback for tech innovation in the U.S. because the more time the SEC takes, the more entrepreneurs are going to decide to pack their bags and take their successful projects elsewhere.