Former SEC President J. Clayton confirmed that he was appointed as an interim American attorney for the southern district of New York after using the “Blue Slip” to block the vote that confirmed the situation of Clayton by the Senate leader of the Democratic Party.
US President Donald Trump appointed Clayton five months after being nominated to play a role. He replaced Demian Williams, who played a major role in the sentence of former FTX CEO Sam Bankman-Fride and other high-profile crypto cases.
Clayton stated that their top priorities on 22 April would have to protect public safety, ensure the integrity of the US financial system, protect national security interests and fight fraud, especially against the elderly and the weaker people.
The temporary nature of the appointment of Clayton effectively stops the Senate vote and the official confirmation of their position as a result of the use of a blue slip to block the confirmation of the Clayton on 16 April by the Democrat Senate minority leader Chak Shumar.
Blue slip can be used by the senators to block the US Attorney or District Court judicial nominations in their home states.
Clayton is allowed to serve as an interim US lawyer for 120 days without confirmation of the Senate. After that, he will need to approve the Senate vote or get a temporary expansion of his interim position from the federal court of Manhattan.
Trump criticized Shumar’s move in the Social Post of 17 April, stating that Clayton received bilateral support in the Senate and Clayton complied with all the requests asked for him.
The interim position of the situation of Clayton will last around August 20. The role will see him as the apex law enforcement officer for the southern district of New York, including New York, Bronx, Westchester, Rockland, Putnam, Orange, Dutch and Sulivan counties.
The southern district of New York is the oldest federal court district in the United States, and its location in the financial subscriber of the country is that it often handles high-profile cases related to white collar crime.
Clayton has mostly shared positive views on Crypto
Clayton served as an SEC chair between May 4, 2017 and 23 December 2020 and brought 56 cases against crypto firms during his tenure.
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He said in the December 2021 CNBC interview that he is “a huge believer in Crypto technology,” saying “the financial system is” with proficiency gains and otherwise tokens. “
Clayton has also praised Bitcoin (BTC) as a major store of value, but did not allow bitcoin exchange-facing products during its time as an SEC chair.
The first US bitcoin investment product was approved in 2021 under former SEC President Gary Gensor,
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