Jay Clayton, the onetime chair of the U.s. Securities and Commutation Commission, has accepted an informational role with blockchain infrastructure provider Fireblocks — marker a pregnant addition to a company that but recently accomplished unicorn status.

In joining Fireblocks' advisory board, Clayton acknowledged that he shares the company'due south view that "digital asset custody requires the same level of service equally traditional custody while also striving for improve regulatory outcomes."

Michael Shaulov, CEO and co-founder of Fireblocks, said Clayton will "assistance to advance farther the safety and security of the Fireblocks infrastructure for capital market place participants and investors."

Clayton headed the SEC betwixt 2022 and 2022, where he helped navigate complex and frequently evolving regulatory requirements for the digital asset industry. Clayton was present during the 2022 cryptocurrency balderdash market where bug surrounding initial money offerings and security tokens were at the fore.

Fireblocks represents Clayton'south second loftier-contour crypto appointment since leaving the securities regulator in December 2022. In March of this year, Clayton joined a regulatory advisory council for One River Asset Management, a crypto-focused investment manager. The asset manager said Clayton was tapped for his vast regulatory and policy experience.

Crypto regulations in full general and revenue enhancement-reporting requirements, in particular, have been top of heed for the digital asset market in contempo months. Electric current SEC Chair Gary Gensler is reportedly keen on bringing more than regulatory oversight to the cryptocurrency market. Meanwhile, the recently passed infrastructure bill has sure provisions that may classify blockchain infrastructure providers as "brokers," which would subject them to tax requirements. All the same, in that location is growing promise that the Treasury Department will clarify crypto tax reporting rules in the near hereafter.

Related: Treasury to the rescue? Officials to clarify crypto tax reporting rules in infrastructure bill: Report

On the SEC front, the securities regulator continues to receive applications for Bitcoin (BTC) exchange-traded funds, though the full general consensus is that blessing is unlikely this year.