American lawyer.
Walter Joseph “Jay” Clayton III (born July 11, 1966) is an American attorney that served as the Chairman of the US Securities and Exchange Commission (SEC) from May 4, 2017 until December 23, 2020.
Jul 11th, 1966
American
University of Pennsylvania, BS, JD
King's College, Cambridge, BA
US Securities and Exchange Commission - Chairman - 2017-2020
University of Pennsylvania Law School - Lecturer in Law and Adjunct Professor - 2009-2017
Sullivan & Cromwell LLP - Partner
Jay Clayton has a very positive disposition to Bitcoin (BTC) and Ethereum (ETH), both of which were classified as commodities by the SEC and the status was never challenged under his tenure.
However, the nomination of Gensler was not a smooth ride due to the political divide between the two leading parties.
During the three years that Clayton served as the chairman of the SEC, he was working with initiatives that advanced the economy’s growth.
The petitioners accused the SEC of causing remarkable damage to their XRP coin holdings which has tanked in value since it filed the lawsuit.
While the Ripple lawsuit was the last blow struck against the crypto industry by Jay Clayton, Ripple noted that it is open to working with the agency’s new leadership whenever they are appointed.