The Securities and Exchange Commission (SEC) has reportedly reassigned Jorge Tenreiro, its former head of crypto enforcement and chief litigation counsel, to the agency’s IT department. According to The Wall Street Journal on February 5, this move marks a significant shift in the SEC’s approach to crypto regulation.
Key Crypto Enforcer Moved to IT
Tenreiro, who previously oversaw major lawsuits and investigations within the SEC’s Division of Enforcement, now finds himself in the agency’s computer systems management office. This reassignment follows his role as acting chief of the SEC’s crypto assets and cyber unit, where he led enforcement actions against high-profile firms like Coinbase, Ripple, and Tron under former SEC Chair Gary Gensler.
Tenreiro took over as acting chief of the crypto unit in June 2023 after David Hirsch’s departure and was promoted to lead the SEC’s overall litigation efforts late last year. Despite this high-profile role, his move to the IT department raises questions, especially since such positions typically remain stable through administrative changes. Tenreiro has been with the SEC since 2013, starting as a senior enforcement lawyer during the initial coin offering (ICO) crackdown under then-Chair Jay Clayton.
Broader Reshuffling Within the SEC
Tenreiro isn’t the only senior figure being reassigned. Natasha Guinan, a senior lawyer in the SEC’s chief accountant’s office, was also moved to an unspecified role. Guinan co-authored the controversial Staff Accounting Bulletin 121 (SAB 121), a 2022 rule that required financial institutions holding cryptocurrencies to record them as liabilities. This rule was recently revoked under acting SEC Chair Mark Uyeda.
The transfers come amid broader changes within the SEC’s crypto enforcement unit. Just a day earlier, The New York Times reported that the SEC was scaling back its 50-person crypto unit, with some of its top lawyers reassigned from enforcement roles. It’s unclear whether Tenreiro was among those referenced in the report.
Shifts in Crypto Regulatory Approach
These developments come as the SEC appears to be softening its stance on crypto regulation. President Donald Trump, during his 2024 campaign, pledged to halt the SEC’s aggressive crypto enforcement. On January 23, he signed an executive order establishing a crypto working group tasked with creating a comprehensive legal framework for the industry.
In line with this shift, the SEC is now exploring retroactive relief for certain token offerings, signaling a potential easing of regulatory pressure. This initiative is spearheaded by crypto-friendly Commissioner Hester Peirce, who has been tasked with leading a crypto task force under acting Chair Uyeda.
An SEC spokesperson declined to comment on the reassignments, and attempts to reach Tenreiro and Guinan for comments were unsuccessful.
