Ripple Lawsuit Lead Attorney Joins US SEC As Chief Litigation Counsel
The US SEC’s lead attorney in the Ripple lawsuit, Jorge G. Tenreiro, has joined the agency as its Chief Litigation Counsel, sparking discussions in the crypto market. This appointment by the SEC indicates that despite optimism over pro-crypto regulation after Donald Trump’s election win, the agency maintains its strict stance toward the digital assets space. Notably, Tenreiro has faced immense criticism from the crypto community for his aggressive stance against the digital assets space.
Ripple Lawsuit Lead Attorney Joins US SEC As Chief Litigation Counsel
The lead attorney for the US SEC in the Ripple lawsuit, Jorge G. Tenreiro, has joined the agency as its Chief Litigation Counsel, his LinkedIn profile shows. This development has once again fueled speculations in the market, especially after the market expected a dovish stance by the US SEC with Gary Gensler’s resignation announcement.
The development was also highlighted by pro-XRP lawyer Bill Morgan, with many criticizing the agency for such a move. In addition, given the aggressive viewpoint of Tenreiro towards the crypto sector, many anticipate the agency to continue with its harsh stance ahead.
Source: Bill Morgan, X
Meanwhile, last week digital assets enthusiasts were hoping for the crypto cases to drop by the US SEC under Trump’s administration. However, with the latest move to appoint Tenreiro as Chief Litigation Counsel, the agency is likely signaling its commitment towards strict crypto oversight.
Notably, previously, Tenreiro has led the Crypto Assets and Cyber Unit. He was also responsible for some of the most crucial cases of the US SEC. Besides, his role in the XRP lawsuit has further highlighted his aggressive enforcement tactics toward the crypto space.
What It Means For The Crypto Market?
The Ripple lawsuit has recently gained notable traction after the blockchain firm won a court order to speed up the judgment procedure in the XRP case. This has triggered a massive rally in the XRP price, sending it to number three position in the top crypto by market cap list.
However, with this recent appointment of Jorge G. Tenreiro by the US SEC, many anticipate a topsy-turvy scenario ahead for the broader crypto market. This promotion would grant him additional authority in the agency, aiding him in handling the upcoming SEC cases.
In addition, it also weighed on the investors’ sentiment, dampening hopes over pro-crypto regulations under the Republican administration. Notably, in a recent X post, Ripple CLO Stuart Alderoty urged the market enthusiasts not to “hire any lawyer who was involved in suing any crypto company or project”. Commenting on that, pro-XRP lawyer John Deaton said “the number one lawyer on top of that list is Jorge Tenreiro.”
These comments highlight Tenreiro’s reputation among the crypto market experts as well as enthusiasts. Having said that, the market might keep a close track of the future developments of the US SEC amid hopes of a favorable regulatory environment for the digital assets space under the Trump administration.
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