Jorge Tenreiro becomes SEC chief litigation counsel for crypto

Jorge Tenreiro, the former chief of the U.S. Securities and Exchange Commission’s crypto and cyber unit, has been appointed as the agency's chief litigation counsel. 

This transition comes just weeks before the anticipated inauguration of President-elect Donald Trump, who has indicated plans to reduce regulatory scrutiny on the cryptocurrency industry.

Tenreiro updated his LinkedIn profile this month to reflect his new role, which involves overseeing the SEC’s Division of Enforcement lawsuits and investigations. 

A job posting for this position previously advertised a salary of up to $305,000 per year.

In related changes, Mark Sylvester, the former assistant director of the crypto unit, and Laura D’Allaird, who served as counsel to outgoing commissioner Jaime Lizárraga, have been named co-chiefs of the crypto assets and cyber unit.

Tenreiro succeeds Olivia Choe, the former SEC litigation chief, who left the agency in July to join Milbank LLP as a partner.

Since joining the crypto assets and cyber unit in October 2022 as deputy chief, Tenreiro has led several high-profile lawsuits against major players in the cryptocurrency sector. 

These include actions against exchanges like Kraken and Coinbase, as well as blockchain firm Tron and its founder Justin Sun. 

He has also been involved in a lengthy legal battle with Ripple Labs.

Tenreiro is listed among SEC lawyers who sued Terraform Labs and its founder Do Kwon earlier this year. 

The crypto unit has also pursued legal action against FTX and its former executives and achieved a record settlement of $4.47 billion with Terraform Labs in June.

Despite his accomplishments, Tenreiro faces criticism within the industry. 

Crypto lawyer John Deaton remarked on social media that Tenreiro is among those whom the crypto sector should avoid hiring if they leave the SEC.

The SEC has not commented on Tenreiro’s new position, nor has he responded to requests for comment regarding his appointment.