FOIA Update
September 25, 2023

WASHINGTON – Empower Oversight has submitted a new Freedom of Information Act (FOIA) request seeking communications between Jay Clayton, the former Securities and Exchange Commission (SEC) Chairman, and numerous people he may have interacted with regarding the agency’s improper handling of cryptocurrency enforcement decisions.

The request stems from Clayton’s statements regarding Bitcoin and other senior officials’ statements on Ether suggesting that they were not securities subject to SEC enforcement jurisdiction, only to have the SEC file suit as Clayton was leaving the agency against Ripple related to another cryptocurrency, XRP, alleging that it was a security. In addition, following his tenure at the SEC, Clayton joined cryptocurrency hedge fund One River Asset Management, a firm that focuses exclusively on Bitcoin and Ether, cryptocurrencies that benefited from the SEC’s selective enforcement action. 

The SEC most recently released documents related to the possible conflicts of interest in the agency’s cryptocurrency enforcement decisions. The release came after two years of FOIA requests and litigation filed by Empower Oversight. To see those documents and the timeline of requests click here.

To see today’s request click here.