The U.S. Securities and Exchange Commission (SEC) has moved its Chief Litigation Lawyer, Jorge Tenreiro, to a position in the IT department. This department handles the agency’s computer systems. Tenreiro was involved in leading six high-profile lawsuits against major firms like Ripple, Coinbase, and Tron, particularly in the cryptocurrency space. He was also one of the SEC executives who approved the appeal against Ripple. The decision to move Tenreiro was reported by The Wall Street Journal on February 5.
Tenreiro had previously been with the SEC’s crypto assets and cyber unit. He joined the unit in October 2022 and became its acting chief in June 2023. Under the leadership of former SEC Chair Gary Gensler, Tenreiro played a crucial role in overseeing enforcement actions against prominent cryptocurrency firms.
The reassignment of Tenreiro to the IT department has raised concerns in the crypto community. His actions and statements regarding the crypto sector have faced criticism, particularly his aggressive enforcement against crypto-related companies. This has made him a central figure in the ongoing regulatory battle between the SEC and the industry.
There is speculation that this change in Tenreiro’s position may indicate a shift in the SEC’s approach to crypto regulation. Many in the industry have expressed concerns about the SEC’s aggressive stance, which some consider to be overreach. Ripple’s General Counsel, Stuart Alderoty, responded to the news on Twitter, jokingly stating that Tenreiro has been reassigned to “Macrodata Refinement.”
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