Ripple executives have it ock ha ha Jorge Terreiro, a demoted lawyer for the U.S. Securities and Exchange Commission (SEC), who led the agency’s crypto enforcement efforts.
Ripple’s Chief Technology Officer David Schwartz has funny predicted that Tenreiro will become a film critic.
Ripple’s top lawyer, Stuart Aldeoty, joked that Tenreiro had been reassigned to Macrodata’s refinement.
Ripple CEO Brad Garlinghouse suggests that Tenreiro’s next career move could be working in Best Buy’s technical support. “Do you think he can try out the nerd team next?” he said.
Yesterday, the New York Times reported that the SEC is reducing its crypto-enforcement squad and that an unknown top litigator has been moved to the IT office. The report describes the move as an “unfair demobilization.”
The Wall Street Journal later confirmed that Tenreiro, who led the case against Ripple and Coinbase, was the top lawyer originally mentioned by the New York Times.
Before his demobilization, Tenreiro was the SEC’s chief litigation advisor.
calfYale Law School alumni first joined the SEC in 2013.
Following the resignation of Chairman Gary Gensler, the new SEC administration soon moved to an overhaul of its crypto policy. It abandoned the SAB 121 rules, allowing large banks to detain crypto, while also creating a crypto-centric task force to establish clear rules for roads for the industry.
However, it remains to be seen what will happen in the remaining crypto enforcement cases, including an appeal against Ripple.
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