Jay Clayton, the former chairman of the U.S. Securities and Exchange Commission (SEC), has been sworn in as the interim U.S. Attorney for the Southern District of New York, following a controversial political maneuver that blocked his official confirmation. Clayton takes over from Damian Williams, who led major crypto-related prosecutions, including the conviction of ex-FTX CEO Sam Bankman-Fried.

Clayton’s appointment was stalled after Senate Democratic leader Chuck Schumer exercised a “blue slip” — a rarely used procedural tool allowing senators to halt federal appointments in their home states. As a result, Clayton steps in without Senate confirmation and can serve for up to 120 days, until around August 20, unless formally approved or extended by the court.

Speaking on April 22, Clayton outlined his main objectives: safeguarding public safety, preserving financial system integrity, defending national security, and cracking down on fraud, especially against vulnerable groups like the elderly.

President Trump, who nominated Clayton, lashed out at Schumer’s move on Truth Social, noting that Clayton had bipartisan backing and complied with all requirements. Despite the roadblock, Clayton now becomes the top law enforcement figure for a region covering key New York counties, including Manhattan and the Bronx.

Clayton, known for his balanced stance on cryptocurrency, led the SEC from 2017 to 2020 and initiated 56 crypto enforcement actions. He has publicly supported crypto tech, praising its potential efficiency benefits and describing Bitcoin as a strong store of value. However, he notably held back approval of Bitcoin ETFs, which only gained approval under his successor, Gary Gensler, in 2021.

Clayton’s return to the spotlight comes at a critical time, as financial crimes and digital assets remain under intense federal scrutiny.