Trump Considers Jay Clayton for AI Czar Role Amid Crypto Regulatory Tensions

President Donald Trump is considering Jay Clayton for an artificial-intelligence czar role. The former SEC Chair would oversee AI policy, but details about his responsibilities are unclear.

Trump mentioned Clayton as a potential candidate, calling him 'a good man' and 'a good idea.' He aims to select the new czar within three or four days.

The selection comes at an interesting time for crypto markets. The SEC filed its lawsuit against Ripple, Bradley Garlinghouse, and Christian Larsen on December 22, 2020. The agency alleged that they raised more than $1.3 billion through an unregistered digital-asset securities offering.

XRP was trading at $1.49 on September 30, down 0.9% from the previous day's price.