Sources claim the U.S. SEC has reassigned Jorge G. Tenreiro, a top litigator who signed the commission’s appeal against Ripple, to the IT department.
Ripple CLO Stuart Alderoty shared a screenshot of a Wall Street Journal (WSJ) report, claiming that Tenreiro has been reassigned to the commission’s IT department.
Citing sources familiar with the matter, WSJ stated that the development is part of the SEC’s efforts to downsize its crypto enforcement team.
SEC’s Changing Regulatory Approach
The SEC, under the leadership of Acting Chair Mark Uyeda, is working assiduously to change its aggressive stance against crypto to a more friendly approach.
This led to the creation of a crypto task force for crypto-specific rules and the downsizing of the enforcement unit. As reported earlier, the SEC has reassigned over 50 lawyers and staff members from the enforcement unit to other departments.
Tenreiro Reassigned to Macrodata Refinement Office
Notably, Tenreiro was among those reassigned to Macrodata Refinement department, which manages the SEC’s computers.
In December, past chairman Gary Gensler promoted Tenreiro to Chief Litigation Counsel, authorizing him to oversee the commission’s litigation strategy.
Like Gensler, Tenreiro is not in the good books of several crypto enthusiasts. He oversaw the past administration’s enforcement actions against crypto entities.
Tenreiro Signed the SEC Appeal Against Ripple
In particular, he signed most of the SEC’s motions against crypto payments company Ripple, including the commission’s notice of appeal. Yesterday, Jimmy Valle, the Managing Director at Valhil Capital, reminded the XRP army that Tenreiro signed the commission’s notice of appeal against Ripple’s victory on October 2, 2024.
Internet. Please remind me who signed the Notice of Appeal for the @SECGov in the SEC v. Ripple et al case. https://t.co/ebPFImtMad pic.twitter.com/QGlWQeN2PB
— Jimmy Vallee (@jvallee2000) February 5, 2025
Although Tenreiro acted based on the recommendation of his superiors, he was singled out for criticism because of his role in these cases.
The SEC’s appeal against Ripple is still ongoing in the Second Circuit. Ripple is expected to file its counter-appeal brief and response to the SEC’s opening appeal brief on April 16, 2025. Last month, the company asked the court to authorize April 16 as the due date for these filings.
Will SEC Drop Ripple Case?
With the SEC currently making moves to change its enforcement-heavy approach against crypto, speculations suggest that the commission might drop most lawsuits against businesses in the sector.
The Senate has not yet confirmed Trump’s nominated chairman for the SEC in the person of Paul Atkins. As a pro-crypto advocate, Atkins is expected to be less aggressive toward the industry compared to the previous administration.
His tenure could provide the much-needed regulation for the crypto sector. As Alderoty predicts, he may drop most industry-related lawsuits, including the Ripple case.
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