The post Trump Nominates Ex-SEC Chair Clayton as SDNY U.S. Attorney appeared on BitcoinEthereumNews.com.

TLDR Trump names former SEC Chair Jay Clayton as U.S. Attorney for SDNY Clayton previously oversaw SEC from 2017-2020 and was involved in crypto regulation Clayton signed off on Ripple lawsuit before leaving SEC SDNY office recently prosecuted SBF, resulting in 25-year sentence Trump previously attempted to nominate Clayton to this same position President-elect Donald Trump has announced his intention to appoint former Securities and Exchange Commission (SEC) Chairman Jay Clayton as the U.S. Attorney for the Southern District of New York (SDNY). The appointment would put Clayton in charge of one of the nation’s most prominent federal prosecutor offices. Clayton, who led the SEC from 2017 to 2020, would take over the same office that recently secured a conviction against former FTX CEO Sam Bankman-Fried. The SDNY office, under current U.S. Attorney Damian Williams, successfully prosecuted Bankman-Fried on seven fraud and conspiracy charges, resulting in a 25-year prison sentence. During his tenure at the SEC, Clayton played a key role in shaping cryptocurrency regulation. He oversaw the creation of the SEC’s DAO Report, which established the agency’s broad jurisdiction over the cryptocurrency industry. Clayton notably maintained that most initial coin offerings (ICOs) should be classified as securities, a position later reinforced by current SEC Chair Gary Gensler. Before leaving the SEC in December 2020, Clayton made several important decisions affecting the cryptocurrency sector. One of his final actions was approving the SEC’s lawsuit against Ripple Labs, a case that continues to move through the federal appellate court system. A judge later ruled that Ripple had not violated federal securities laws in making XRP available to retail traders through exchanges. This is not the first time Trump has considered Clayton for this position. A previous attempt to nominate him as U.S. Attorney for SDNY was made during Trump’s first term,…

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Filed under: News - @ November 15, 2024 1:24 pm