U.S. President Trump’s Securities and Exchange Commission has advanced staff changes with a shuffle in its crypto-focused litigation team amid plans to scale back enforcement actions.
Jorge Tenreiro, the Securities and Exchange Commission’s top crypto prosecutor, has reportedly been moved to the agency’s IT department as regulators shift course on digital asset lawsuits.
Tenreiro led several landmark SEC cases against major players like Ripple and Telegram as the agency sought court backing to assert its authority over crypto oversight. His transfer to a department responsible for maintaining SEC computer systems was finalized last week, according to the Wall Street Journal.
SEC flips its crypto script
Tenreiro’s reassignment adds to ongoing staff changes at the SEC under the Trump administration. This week, the securities watchdog announced plans to scale back crypto enforcement cases and refocus on policy formation.
Providing clearer regulatory guidelines for digital assets has been identified as a priority, aligning with Trump’s pledge to support the industry’s growth.
Acting SEC chair Mark Uyeda, who has temporarily replaced Gary Gensler at the agency’s helm, has already formed a task force led by crypto-friendly commissioner Hester Peirce.”The journey begins now,” Peirce wrote as the initiative outlined four key objectives to chart a new course at the commission.
The task force is part of a broader government effort to synchronize rule-making across multiple federal regulators. Caroline Pham, interim chair of the Commodity Futures Trading Commission, also announced roundtable discussions with industry leaders to address key regulatory challenges.
Lawmakers in both Chambers of Congress also unveiled a bicameral working group to bridge policy gaps and tackle crypto regulatory ambiguity.
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