SEC Judge Who Signed Off on Ripple Case Appeal Moves to IT Department
The Securities and Exchange Commission (SEC) has undergone a major turn, moving its chief litigation attorney, Jorge Tenreiro, to a position in the IT department. The department handles the agency’s computer systems. The decision, reported by the Wall Street Journal on February 5, comes after Tenreiro’s massive involvement in six high-profile lawsuits, especially in the cryptocurrency space, targeting major companies such as Ripple, Coinbase and Tron. Tenreiro, one of SEC executives, approved an appeal against Ripple. The appeal notice filed on October 2, 2024 brought a ruling to Judge Torres.
Tenreiro SEC character background
Tenreiro was promoted to SEC litigation late last year and has previously worked in the SEC’s crypto assets and networking division. He joined the department in October 2022 as Deputy Director and became Acting Chief in June 2023. Under former SEC Chairman Gary Gensler, Tenreiro played a key role in overseeing enforcement actions against well-known cryptocurrency companies.
The reallocation of IT departments has attracted attention from the crypto community, especially since Tenreiro’s actions and statements about the cryptocurrency sector. His involvement in active executions against crypto-related companies has made him a central figure in the ongoing regulatory battle between the SEC and the industry.
Transformation of SEC’s crypto enforcement strategy?
This change in Tenreiro’s position is amid growing speculation that the SEC may be reevaluating its approach to crypto regulation. Many in the industry have expressed concerns about the SEC’s positive stance, which some critics have labeled as “over-challenging.” Ripple’s general counsel Stuart Alderoty responded to the news humorously on Twitter, writing: “Source said Jorge Tenreiro has been reassigned to the Macrodata improvements.”
