Jay Clayton Tapped to Lead U.S. AI Force Amid Growing Industry Concerns

Former U.S. Securities and Exchange Commission Chairman Jay Clayton is reportedly on the verge of taking a new role as the administration's artificial intelligence (AI) czar.

The job will focus on the administration's AI Force, which oversees the rapidly growing domestic industry.

Clayton has a history of overseeing emerging technology, including the regulation-by-enforcement approach to cryptocurrency (crypto) during his time at the SEC.

He was responsible for the enforcement case against Ripple Labs, which was one of the major enforcement cases the SEC conducted against a significant industry name.

The case accused Ripple of failing to register some $1.3 billion of its XRP tokens as securities.

Clayton's SEC also issued a report outlining his enforcement record, which included 57 cases against digital assets, blockchain businesses, and initial coin offerings (ICOs).