Former SEC Chair Jay Clayton has been appointed by President-elect Donald Trump to serve as the U.S. Attorney for the Southern District of New York, overseeing the Department of Justice in that state.

Clayton has been active in advising several crypto firms since leaving the SEC in December 2020. During his tenure, he produced a notable report on decentralized autonomous organizations (DAOs) and consistently asserted that many initial coin offerings (ICOs) should be classified as securities, a view supported by the current SEC Chair Gary Gensler.

"[Clayton] is a highly respected business leader, counsel and public servant." — Donald Trump

In recent actions at the SEC, Clayton was involved in the lawsuit against Ripple Labs, which is currently being addressed by the federal courts.

Under the current U.S. Attorney Damian Williams, this branch has been involved in several high-profile prosecutions, including the case against the founder of FTX, Sam Bankman-Fried.

In his post-election strategy, Trump has also suggested various nominations for cabinet positions, alongside naming Elon Musk as co-head of a proposed Department of Government Efficiency.