Trump Taps Crypto Enforcement Veteran as Next SDNY US Attorney

President Trump has nominated James M. McDonald to lead the Southern District of New York (SDNY) as its next US Attorney, a role that carries significant influence over cryptocurrency regulation in the United States.

The appointment comes after current SDNY US Attorney Jay Clayton was tapped by President Trump to serve as Director of National Intelligence on June 11, leaving a vacancy at the helm of one of the most consequential federal prosecutor's offices in the country.

McDonald has a strong background in financial regulation and enforcement. He currently serves as a litigation partner at Sullivan & Cromwell, a law firm with ties to crypto enforcement. Prior to joining the firm, McDonald was Director of Enforcement at the Commodity Futures Trading Commission (CFTC) from 2013 to 2017.

During his time at the CFTC, McDonald led several high-profile enforcement actions related to cryptocurrency. After leaving government, he shifted to the private sector and advised clients within the crypto industry on regulatory matters, including BlockFi in a settlement involving digital assets. Sullivan & Cromwell also served as counsel to FTX's bankruptcy estate.