SEC Reassigns Top Crypto Litigator

The U.S. Securities and Exchange Commission (SEC) has reportedly reassigned its chief litigation counsel, Jorge Tenreiro, to the agency’s IT department, marking another shift in its crypto enforcement strategy.

Tenreiro, who previously oversaw enforcement lawsuits and investigations, was moved last week, according to a Wall Street Journal report on February 5. The agency also reassigned Natasha Guinan, a senior lawyer instrumental in drafting the controversial 2022 crypto accounting rule, SAB 121, though her new role remains unknown.

The moves come as the SEC scales back its crypto enforcement unit, reassigning key staff amid the shifting regulatory climate under President Donald Trump.

SEC Reshuffles Crypto Legal Team

Tenreiro has been a key figure in the SEC’s crackdown on crypto firms. He played a pivotal role in cases against Coinbase, Ripple, and Tron, first joining the crypto assets and cyber unit in 2022 before taking over as acting chief in June 2023 following David Hirsch’s departure.

He was promoted to head the SEC’s overall litigation efforts just weeks before Trump took office. While his role was not a political appointment, his sudden reassignment to IT raises questions about the SEC’s future approach to crypto enforcement.

Meanwhile, the agency is reportedly exploring retroactive relief for token offerings and other measures to ease regulatory burdens on the crypto sector.

Hester Peirce Takes the Lead on Crypto Policy

The SEC’s evolving stance on crypto regulation is now being led by Commissioner Hester Peirce, known for her pro-crypto advocacy. Peirce has been tasked with heading a new crypto task force aimed at developing a clearer legal framework for digital assets.

President Trump’s administration has signaled a more crypto-friendly approach, establishing a crypto working group through an executive order on January 23. His campaign previously vowed to halt aggressive SEC actions against the industry.

With Peirce at the helm, market participants are watching closely for potential regulatory rollbacks, including reconsideration of past token enforcement cases.

What’s Next for Crypto Regulation?

The SEC’s decision to reassign Tenreiro and dismantle parts of its crypto enforcement unit suggests a significant policy shift. Under former Chair Gary Gensler, the agency aggressively pursued crypto firms and projects, but the new administration appears to be taking a different approach.

For now, the crypto industry awaits further clarity on whether these moves indicate a genuine regulatory pivot or merely internal restructuring. With Peirce leading reform efforts, crypto-friendly policies could be on the horizon—but how far the SEC is willing to go remains to be seen.