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A familiar figure who enforced securities regulations against the crypto industry under the previous Trump Administration may soon find himself back in power, this time as a chief federal prosecutor.
What’s the Scoop?
- Presidential Appointment: In an announcement to Truth Social followers on November 14, President-elect
Donald Trump made public his intention to nominate former Securities and Exchange Commission (SEC) chair Jay Clayton as U.S. Attorney for the Southern District of New York. - Key Enforcer: Notably, the SDNY jurisdiction encompasses Manhattan; the trial district has long been one of the most active in the United States and often decides matters related to American financial institutions and the prosecution of white-collar crime.
Bankless Take:
Trump presented himself as crypto’s champion on the campaign trail, but Clayton’s appointment as U.S. Attorney for a key federal prosecutorial district has offended many within the industry. While crypto participants remain optimistic for the impending Trump Administration embrace, Clayton’s appointment threatens to increase enforcement actions against blockchain-based issuers of unregistered security products.
BREAKING: President-elect Donald Trump announced his intention to nominate former SEC Chairman Jay Clayton to be the US Attorney for the Southern District of New York. pic.twitter.com/CAwbq9w9oT
— Bloomberg Law (@BLaw) November 14, 2024
