The U.S. Securities and Exchange Commission (SEC) has appointed Jorge G. Tenreiro, the lead attorney in its lawsuit against Ripple, as its Chief Litigation Counsel. This promotion comes despite ongoing litigation, with the SEC appealing its partial loss in the case earlier this year. However, XRP supporters remain optimistic as Tenreiro is not necessarily anti-crypto.
Will Tenreiro’s Appointment Be a Threat to Ripple?
The decision has sparked mixed reactions within the XRP community. Pro-XRP attorney Fred Rispoli expressed disappointment but highlighted potential positives. “Although this is disappointing, there are silver linings. First, Tenreiro has no principles and will do whatever his master tells him. So he could be pro-crypto tomorrow for the right price,” Rispoli said.
He added, “Second, he can always get shit-canned.” This suggests the upcoming shake-up in the SEC administration could also lead to Tenreiro’s exit in case he refrains from adopting a crypto-friendly strategy under the Trump administration.
Although this is disappointing, there are silver linings. First, Tenreiro has no principles and will do whatever his master tells him. So he could be pro-crypto tomorrow for the right price (better title, promotion, more power, etc).
Second, he can always get shit-canned. https://t.co/zwfcagMjIw
— Fred Rispoli (@freddyriz) December 4, 2024
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Amid these developments, speculation is growing about the SEC’s future stance on Ripple. Some netizens believe the agency may drop its appeal after President-elect Donald Trump takes the office on January 20, 2025 and SEC Chair Gary Gensler resigns. Reports suggest that pro-crypto advocate Paul Atkins is being considered as Gensler’s potential successor, fueling optimism among XRP supporters.
The Ripple case has been a cornerstone of crypto regulation debates, with significant implications for the industry. Many are now watching closely to see how leadership changes at the SEC could shift the agency’s enforcement approach.
For now, Tenreiro’s promotion signals the SEC’s commitment to its litigation strategy of anti-crypto enforcements. However, political shifts in 2025 will surely reshape the crypto regulatory scene with Trump eyeing Commodities and Futures Trading Commission (CFTC) to take over a part of the job.
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