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U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton has submitted his resignation and will leave at the end of the year

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Jay Clayton originally planned to step down in June 2021. Last month, he announced he would be leaving at the end of the year.

BlockBeats news, December 24, SEC Chairman Jay Clayton submitted his resignation today to President Donald Trump . He previously served in the position for three and a half years and will be due at the end of the year.

Jay Clayton’s administration has seen the SEC go after several high-profile crypto projects that allegedly held unregistered securities products. And it recently filed a lawsuit against Ripple, claiming that Ripple has raised $1.3 billion since 2013 through unregistered securities sales. It is the largest lawsuit brought by the SEC to date. After the lawsuit was initiated, the XRP currency plummeted, down 38% in 24 hours.

In his resignation letter, Jay Clayto thanked the 4,500 SEC employees he has led since 2017 and thanked Their "service to investors, our market and our country".

Jay Clayton originally planned to step down in June 2021. Last month, he announced he would be leaving at the end of the year.