White House · Donald Trump · SEC · New York · CoinDesk
Trump’s potential AI czar, Jay Clayton, helped pioneer the SEC’s crypto crackdown
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Jay Clayton, the former U.S. Securities and Exchange Commission chairman has had a busy career since first tangling with the crypto industry more than a decade ago, and now the frequent appointee of President Donald Trump is reportedly on the verge of taking a job as the administration's artificial intelligence czar.
Key facts
- In 2017, he established the SEC's "Cyber Unit" to focus on the emerging sector, and began policing initial coin offerings (ICOs) and other industry activity
- If Clayton gets the new job, it'll focus on the administration's AI Force to oversee the rapidly growing domestic industry
- The regulation-by-enforcement crypto stance the industry decried under former Chairman Gary Gensler, a Democratic appointee of previous President Joe Biden, had its beginnings in Clayton's tenure
- The czar job now appears to be AI-focused, apparently leaving any crypto work at the White House in the hands of a soon-departing adviser
Summary
Former SEC Chairman Jay Clayton is reportedly about to be named the U.S. AI czar. Clayton has a history overseeing emerging technology as former leader of the SEC, where he was responsible for the beginnings of the agency's regulation-by-enforcement approach to crypto, including the enforcement case against Ripple Labs. The new czar job doesn't seem to have the crypto component as it did when David Sacks held the inaugural role. Jay Clayton, the former U.S. That AI czar job seems to have a decidedly different remit than what David Sacks had when he served Trump as the combined crypto and AI czar.