Former SEC Chair Jay Clayton Joins Crypto Firm Fireblocks' Advisory Board

Former Chairman of the United States Securities and Exchange Commission (the SEC) Jay Clayton joined a cryptocurrency infrastructure provider Fireblocks.

What Happened: According to an announcement shared with Benzinga, Clayton will help Fireblocks in navigating the confusing — and oftentimes unclear — crypto regulatory landscape as the firm deploys its digital asset infrastructure.

Clayton will be a part of the company's advisory board, and he acknowledged that he shares the organization's view that that “digital asset custody requires the same level of service as traditional custody while also striving for better regulatory outcomes.

Fireblocks CEO and Co-founder Michael Shaulov said that he expects the former SEC Chairman to help the safety and security of Fireblocks infrastructure for both market participants and investors.

Why It Matters: Clayton led the SEC between 2017 and 2020, where he largely contributed to the death of the then-booming — but also full of scams — initial coin offering mania.

Before joining Fireblocks, he also became part of the regulatory advisory council for crypto-focused investment manager One River Asset Management at the end of March.

Photo: Securities and Exchange Commission via Wikipedia