The post Jay Clayton Tapped by Trump as New Manhattan U.S. Attorney appeared on BitcoinEthereumNews.com.

Trump nominates ex-SEC Chair Jay Clayton for Manhattan U.S. Attorney. Clayton lacks criminal law experience but has a strong background in finance. Clayton’s appointment may face less resistance compared to past Trump picks. President-elect Donald Trump has nominated Jay Clayton, former SEC chair as Manhattan’s U.S. attorney. As a consensus builder at the SEC, Clayton played a key role in shaping crypto regulations and is expected to leverage his financial expertise to the prominent office.  While some view the nomination as a stabilizing move, others have questioned Clayton’s lack of criminal law experience, which contrasts with the typical profile for this role. As SEC chair, Clayton oversaw significant regulatory developments for the crypto industry. He played a key role in the creation of the SEC’s DAO Report, which established jurisdiction over decentralized autonomous organizations, and classified most initial coin offerings (ICOs) as securities. One of Clayton’s final actions at the SEC was authorizing the lawsuit against Ripple Labs, a case that remains active in federal appellate courts today. His tenure demonstrated a strong focus on enforcing securities laws within the evolving crypto sector. Read also: Trump’s Pro-Crypto Win Sparks Hope for SEC Reform and Industry Growth Clayton’s background in finance law, including his current role at Sullivan & Cromwell, has drawn scrutiny from critics who point to his lack of experience in criminal prosecution. Under Democratic leadership, the Manhattan office secured high-profile convictions, including those of former FTX founder Sam Bankman-Fried and fund manager Bill Hwang. Clayton’s Nomination for Future Crypto Policies The nomination received mixed reactions with critics cautiously welcoming the choice while others remain skeptical of the unconventional choice. Having said that, Clayton’s past involvement in SEC enforcement, including cases against numerous crypto firms, signals that financial regulation might be given a top priority under his watch.  However…

---

Filed under: News - @ November 15, 2024 6:25 pm