Donald Trump

Chair

United States President-elect Donald Trump announced that his former chair of the Securities and Exchange Commission, Jay Clayton, will serve as US Attorney for the Southern District of New York. Trump spoke highly of Clayton in the Nov. 14 announcement on social media platform Truth Social, noting that he has been a “highly respected business leader, counsel and public servant.” ”Jay is going to be a strong Fighter for the Truth as we Make America Great Again,” Trump said.
<figure>
 <img alt="Trump picks ex-SEC chair Jay Clayton as US Attorney for Manhattan" src="https://s3.cointelegraph.com/uploads/2024-11/01932caf-5d77-7241-b7ad-30cbc1ea97fd" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://truthsocial.com/@realDonaldTrump/posts/113483513301208163" rel="null" target="null" text="null" title="https://truthsocial.com/@realDonaldTrump/posts/113483513301208163">Donald Trump</a>
 </figcaption>
</figure>
Clayton served as SEC chair from May 4, 2017, until Dec. 23, 2020, during Trump’s first stint in the presidency. Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/new-york-resident-arrested-43m-ponzi-scheme" rel="null" target="null" text="null" title="https://cointelegraph.com/news/new-york-resident-arrested-43m-ponzi-scheme">FBI busts $43M crypto and Las Vegas hospitality Ponzi scheme</a>
Trump will be inaugurated as the 47th US President on Jan. 20. As attorney for the Southern District of New York, Clayton will be replacing Damian Williams, who has brought dozens of cases against crypto criminals for committing wire fraud and money laundering. One of William’s most notable prosecutorial victories was the conviction of <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ftx-execs-prison-sentencing-legal-troubles" rel="" target="_self" text="null" title="https://cointelegraph.com/news/ftx-execs-prison-sentencing-legal-troubles">former FTX CEO Sam Bankman-Fried,</a> who committed one of the largest frauds in US history. William’s efforts contributed to Bankman-Fried receiving a <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/ftx-saga-sam-bankman-fried-25-years-prison-law-decoded" rel="" target="_self" text="null" title="https://cointelegraph.com/news/ftx-saga-sam-bankman-fried-25-years-prison-law-decoded">25-year prison sentence.</a> Clayton’s views toward the crypto industry are somewhat mixed. In December 2021, Clayton <a data-ct-non-breakable="null" href="https://x.com/SquawkCNBC/status/1471097182426173453" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/SquawkCNBC/status/1471097182426173453">said</a> he’s a “huge believer” in blockchain technology,” stating: “The efficiency benefits in the financial system and otherwise from tokenization are immense.” 
<figure>
 <img alt="SEC, Elections, Donald Trump" src="https://s3.cointelegraph.com/uploads/2024-11/01932ce5-ff87-7fbd-8928-258bb58d8cea" title="">
 <figcaption style="text-align: center;">
 Source: <a data-ct-non-breakable="null" href="https://x.com/CGasparino/status/1857181989075317048" rel="nofollow noopener" target="_blank" text="null" title="https://x.com/CGasparino/status/1857181989075317048">Charles Gasparino</a>
 </figcaption>
</figure>
Still, the hard-fought court battle between Ripple Labs and the SEC was kickstarted by the Clayton-led SEC, which <a data-ct-non-breakable="null" href="https://cointelegraph.com/learn/articles/the-sec-vs-ripple-lawsuit-everything-you-need-to-know" rel="" target="_self" text="null" title="https://cointelegraph.com/learn/articles/the-sec-vs-ripple-lawsuit-everything-you-need-to-know">filed the lawsuit</a> on his final day before resigning in December 2020. Ripple scored a partial victory in the lawsuit, with Judge Analisa Torres ruling in July 2023 that <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-ripple-appeal-no-challenge-xrp-not-a-security" rel="" target="_self" text="null" title="https://cointelegraph.com/news/sec-ripple-appeal-no-challenge-xrp-not-a-security">XRP isn’t a security</a> when sold on secondary markets. Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/fbi-tokens-ai-crypto-wash-trades-is-it-legal/" rel="" target="_self" text="null" title="https://cointelegraph.com/magazine/fbi-tokens-ai-crypto-wash-trades-is-it-legal/">FBI tokens, AI tokens and crypto wash trades: Crypto lawyers weigh in</a>

Trump picks ex-SEC chair Jay Clayton as US Attorney for Manhattan

Cointelegraph

Other articles published on Nov 14, 2024

Popular Memecoin Experienced a Huge Rise in the Last 24 Hours! Market Value Exceeded $10 Billion!...

MEW token soars nearly 30%, reaching new all-time-high

UK Prepares Crypto Rules to Compete Globally with US And EU

Popular Crypto Analyst Eyes $23 for Dogecoin This Bull Run, Investors Show More Confidence on New...

BIT Mining (NYSE: BTCM) Invests in Prosper’s Native Tokens to Support New Focus on Bitcoin Mining

Ripple CTO Comments On XRP Price Trend Compared to Bitcoin Rally

Join our free newsletter for daily crypto updates!