Jay Clayton, who has served as the chairman of the United States Securities and Exchange Commission since May 2017, will be leaving the agency by the end of 2021. The agency noted that Clayton has been one of its longest-standing chairs.
Crypto enthusiasts will likely be familiar with the agency’s work, whose activities have engaged some of the most controversial regulatory questions facing the new asset class.
As chairman, Clayton also warned Bitcoin investors last year that they would be “sorely mistaken” in expecting that the cryptocurrency could be traded on mainstream exchanges without more robust regulation in place.
During Clayton’s tenure, the SEC reportedly obtained orders for over $14 billion in monetary remedies, a record $4.68 billion in the fiscal year 2020 alone, and returned approximately $3.5 billion to harmed investors.
The commission also paid out roughly $565 million to whistleblowers, which included the largest single award sum paid out to a whistleblower date of $114 million.
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