In what is yet another signal of its shifting focus toward the asset class, the US Securities and Exchange Commission (SEC) has transferred one of its top crypto litigators to its IT department. Indeed, Jorge Tenreiro has been moved to an “office that maintains the agency’s computer systems,” according to the Wall Street Journal.

The move continues its pursuit to overhaul its cryptocurrency policy. Indeed, since US President Donald Trump was inaugurated for his second term, the SEC has undergone a massive transformation. Under the acting chairman, Mark Uyeda, it has continued to find peaceful routes forward with the digital asset industry.

Also Read: SEC Launches Crypto Task Force to Develop Clear Regulation

SEC Top Crypto Litigator Jorge Tenrerio Ousted as Agency Shfit Continues

For the last several years, the SEC had previously become well known for its antagonistic approach to the cryptocurrency market. Led by Gary Gensler, it sought to regulate the industry by enforcement. However, that changed this year. With the arrival of pro-crypto President Donald Trump, there was a concerted effort to completely overhaul the agency’s crypto policy.

Now it appears that part of that was moving one of the men who played a large role in those enforcement actions that the agency enacted. Indeed, the SEC has transferred a top crypto litigator to its IT department, according to a Wall Street Journal report.

SEC Acting Chair Mark Uyeda
Source: Pensions & Investments

Also Read: US Court Demands SEC Explain Denial of Crypto Regulations

Jorge Tenreiro had “overseen a half-dozen lawsuits against crypto exchanges,” the report notes. Moreover, Tenreiro was reportedly a key part of the decision-making process. Specifically, he was part of the agency that was key in deciding the reach the agency had over the growing market.

Yet, that changed with his reassignment. According to the publication, he was moved to an IT department along with a lawyer who was “involved in writing controversial accounting guidelines” to make it more difficult for banks to protect crypto for their clients.

The SEC has yet to comment on the moves, but it aligns with its ongoing shift. The incoming administration has already sought to enact a crypto stockpile. Additionally, they are still eyeing the creation of the first federal Bitcoin reserve.

  • cryptocurrency
  • sec