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- Jay Clayton, former SEC chairman, has taken on the key role of U.S. Atty for Southern District of New York. He is responsible for Wall Street.
- Clayton, who was the SEC’s crypto enforcement chief, led 57 actions, among them the Ripple lawsuit, before stepping down. He then advised crypto companies.
- The SEC is moving towards a conclusion in the Ripple Case, which Clayton started in 2020.
Jay Clayton, former chairman of the SEC and U.S. attorney for Southern District of New York (after being named interim attorney one week earlier by President Trump), officially took up his new role on Tuesday.
Clayton is now the head of one of America’s most powerful prosecutorial offices, renowned for the fact that it has jurisdiction on Wall Street as well as a long history of financial crimes.
Southern District plays a crucial role in the enforcement of corporate accountability, and in shaping financial regulation.
The aforementioned is a The following is a statement by the spokesperson released by the U.S. Attorney's Office, Clayton said he would prioritize "protecting public safety, combating fraud, particularly on the elderly and most vulnerable," and ensure "the integrity of our financial system, and defending our national security."
Senate Majority Speaker Chuck Schumer had previously blocked the nomination process of several U.S. attorney nominees made by President Trump, refusing to provide the requisite blue slips.
Clayton’s new position will be on a temporary basis up to 120 day.
To continue his tenure, the Senate must confirm him or the district court judges of Manhattan can appoint him.
Clayton has a much more expansive mandate now than in his former role as a regulator at SEC. During his tenure at that agency, Clayton played an important role in monitoring the boom for initial coin offerings of 2016.
During his tenure, he brought 57 lawsuits against cryptocurrency firms, ICOs and other blockchain projects. Clayton stopped 18 frauds involving digital and blockchain assets. Summary The SEC has published a list of shows.
While the general number of his enforcement actions on crypto is lower than former SEC Chairman Gary Gensler's count (70 vs. 125 initiated), more of these were approved by unanimous votes (50% to Gensler's 37%), according to Cornerstone Research complied this report.
Clayton's relationship with the crypto industry has been complex and controversial.
Clayton's appointment to SDNY comes shortly after the SEC dropped its appeal in the landmark Ripple case that he initiated during his Final Days SEC chair in December of 2020.
The SEC and Ripple said earlier this month they have been working toward a "negotiated Resolution."
He has since taken on advisory roles with crypto firms after resigning as the SEC. One River You can also find out more about the following: Fireblocks. Later Guide The first to list a Bitcoin ETF despite having previously Hinting Bitcoin is a market that can be manipulated.
Now in office, Clayton said he's "honored" to serve alongside an institution "synonymous with excellence and integrity." Clayton’s achievements reflect a long and storied professional career.
Clayton was selected by President Trump as the new SEC leader and confirmed in May 2017 with bipartisan approval.
Prior to his leadership at the SEC, Clayton defended several of Wall Street's top firms during his time at Sullivan & Cromwell.
Sebastian Sinclair is the editor
