Jay Clayton to serve 120 days as interim Manhattan US attorney

Jay Clayton, the former chair of the Securities and Exchange Commission, has been sworn in as the interim US attorney for the Southern District of New York.

He can serve in this role for up to 120 days without Senate confirmation.

His appointment follows a procedural move by Senate Minority Leader Chuck Schumer, who used a “blue slip” to block a Senate vote on Clayton’s nomination.

The interim role became vacant after Damian Williams stepped down.

Keeping the integrity of the financial system, safeguarding national security, preventing fraud, especially schemes that target the elderly and weak, and ensuring public safety are among Clayton's top concerns.

The Southern District of New York, which covers areas like Manhattan and the Bronx, is known for its focus on financial crime due to its proximity to Wall Street.

Clayton can remain in the role until around August 20 unless the Senate confirms him or a court grants an extension.

Under Senate rules, senators can block US attorney appointments in their home states using blue slips, which has affected Clayton’s path to full confirmation.

Former President Donald Trump, who nominated Clayton, criticised the confirmation delay, saying he had bipartisan backing and met all procedural requirements.

Clayton previously chaired the SEC from 2017 to 2020, during which he pursued enforcement actions against crypto companies.

He maintained that existing securities laws should apply to new technologies and resisted calls to revise them specifically for digital assets.

Clayton stated that Bitcoin (CRYPTO:BTC) is not a security but noted many initial coin offerings do fall under the SEC’s oversight.

His stance on crypto regulation has since evolved, recognising the difficulty of overseeing decentralised assets that operate across global jurisdictions.