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U.S. SEC Chair Clayton to be Appointed to Attorney Role Supervising Crypto Regulatory for New York

By Mary T. | June 21, 2020

Jay Clayton – the US SEC chairman – will reportedly be appointed to the position of New York’s Southern District attorney, supervising a part of New York – a crypto regulatory-heavy area of the US. 

Specifically, as revealed by US Attorney General William Barr, Jay Clayton reportedly has the biggest potential to be the selected one to take up the mantle of a regulation enforcer for an area of New York, widely known for a heavy-handed regulatory attitude towards crypto. 

“I am pleased to announce that President Trump intends to nominate Jay Clayton, currently the Chairman of the Securities and Exchange Commission, to serve as the next United States Attorney for the Southern District of New York.”

Throughout more than a decade since the birth of crypto, New York has reportedly gained a reputation for a stiff regulatory stance against emerging sectors. 

The appointment of Clayton for the position is reportedly a supported initiative, by Barr, considering the previous experience Clayton had. 

“His management experience and expertise in financial regulation give him an ideal background to lead the United States Attorney’s Office for the Southern District of New York,”

Moreover, Clayton has reportedly appeared in a wide range of headlines associating with crypto asset regulation. During a recent speech he gave, the SEC head has shared his pro attitude towards the industry’s underlying blockchain technology. 

“I think a lot of people got excited that somehow we would change the rules to accommodate the technology and they invested their time and effort thinking that would happen […] I have been pretty clear from the start, that ain’t happening.”

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