Jay Clayton, the chairman of the U.S. Securities and Exchange Commission was nominated for U.S. Attorney by President Donald Trump. This was <a href="https://www.justice.gov/opa/pr/attorney-general-william-p-barr-nomination-jay-clayton-serve-us-attorney-southern-district" target="_blank" rel="nofollow noopener">announced </a>on June 19 by Attorney General William Barr that Clayton will be serving as U.S. Attorney for the Southern District of New York. According to the announcement, Clayton will be taking over his position from July 03. Barr has said that as the chairman of the SEC, he was highly successful and made extraordinary efforts to modernize the capital market regulations and a lot more.
<h2>Clayton replacement might have a huge impact on the crypto industry</h2>
This recent announcement of making Clayton as U.S. Attorney, a lot of people from the crypto industry have shown their concern regarding this move. Jake Chervinsky, general counsel at Compound has tweeted that this replacement of Clayton will have some major impact on the crypto industry. There were many other responses regarding this replacement of SEC chairman from the crypto industry. Another prominent one was Michael Arrington, the founder of TechCrunch has said that this replacement is one of the biggest news and a relief for all the crypto and sound money fans across the world. The reason behind all these responses is because he has placed some huge burden on the <a href="https://www.cryptoknowmics.com/news/crypto-industry-amidst-coronavirus/">crypto industry</a>.
<h2>Cryptocurrencies are not securities </h2>
Throughout the tenure of Clayton as the chairman of the U.S. SEC, it has been seen that he was quite strict towards cryptocurrency. He always believed that cryptocurrencies are not securities and he has also released a framework to determine whether the sale of digital assets should be considered as a security or not. While announcing the new appointment of the U.S. Attorney, it has not been made clear who will take over the position of the chairman of the US SEC.

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Jay Clayton To Serve As US Attorney For New York

Attorney General William Barr announced on June 19 that Jay Clayton will be serving as U.S. Attorney for the Southern District of New York.

Vandana has received Master of Arts degree in English from GEU Dehradun. She is currently working as a content writer with Agio Support Solutions and earlier worked as a sub-news editor at Business News and Information Services Private Limited. She is an enthusiastic content writer and aims to bring a compelling yet informative content to the audience. Meanwhile, enhancing her own knowledge in the cryptocurrency and blockchain industry.

Jay Clayton To Serve As US Attorney For New York

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