Jay Clayton was appointed by the elected US President Donald Trump as the United States Attorney for the Southern District of New York. The former SEC Chairman, Clayton, becomes the new head of the State Department of Justice section.
Jay Clayton and Trump’s appointment as the new USA Attorney for the Southern District of New York
The new elected President of the USA, Donald Trump, has appointed the former President of the SEC, Jay Clayton as the new United States Attorney for the Southern District of New York.
Yesterday’s announcement on Truth by Trump quotes as follows:
“I am pleased to announce that Jay Clayton, from New York, Chairman of the United States Securities and Exchange Commission during my first term, where he did an incredible job, has been appointed United States Attorney for the Southern District of New York. Jay is a highly respected corporate leader, lawyer, and public official. Jay earned degrees in engineering and law from the University of Pennsylvania and a degree in economics from the University of Cambridge. Before chairing the SEC, Jay was a partner at Sullivan & Cromwell and was part of the Management Committee. He is currently a senior policy advisor at Sullivan & Cromwell, a board member of several public and private companies, and an adjunct professor at the Wharton Business School and the Carey Law School at the University of Pennsylvania. Jay will be a strong fighter for the truth as we make America great again.”
In practice, Clayton was the President of the Securities and Exchange Commission (or SEC) of the USA precisely in the years when Trump was President of the USA. Specifically, Clayton supervised the SEC between 2017 and 2020.
The news seems not to have been well received by the crypto-community. In fact, it was precisely Clayton who would have been the SEC Chairman who approved the lawsuit against Ripple just before leaving the agency and having it then pursued by his successor Gary Gensler.
Jay Clayton: the former President of the SEC and Trump’s new appointment as United States Attorney
It was December 2020 when Jay Clayton left his role as Chairman of the SEC of the USA, after 4 years in which the crypto boom occurred.
In fact, Clayton would be the one who fully experienced the boom of ICOs – Initial Coin Offering – which started in 2017, becoming a true speculative bubble.
Not only that, as anticipated, Clayton is also the one who, before leaving the SEC forever, had approved the lawsuit against Ripple, often identifying cryptos as unregistered securities.
In this regard, today, with the new appointment as United States Attorney for the Southern District of New York, some crypto figures involved have mentioned him in their comments.
In fact, John E. Deaton, the lawyer friend of Ripple in its endless lawsuit against the SEC and the losing candidate for the Massachusetts Senate elections, here is what he wrote on X:
Very proud of the fact that on January 1, 2021 – 9 days after the @Ripple XRP case was filed, I sued the @SECGov, claiming the Ripple XRP case was filed in bad faith and the case could be the beginning of a jurisdictional land grab by the SEC. Jay Clayton met with @GaryGensler… https://t.co/5q9CbOEzrh pic.twitter.com/YsYf47M5bB
— John E Deaton (@JohnEDeaton1) November 14, 2024
The accusation of 18 US States against the SEC and Gary Gensler
Also yesterday, it emerged that as many as 18 US states are accusing the SEC and its Chairman Gary Gensler of unjustly pursuing the crypto industry.
In practice, it seems that after Trump’s victory in the US presidential elections, the cryptocurrency industry is trying to rebel.
In fact, there are as many as 18 Republican attorneys general who have accused the SEC and Gary Gensler of unconstitutional abuse of power against crypto companies.