TechFlow reported, according to The Wall Street Journal, that the U.S. Securities and Exchange Commission (SEC) has reassigned its chief litigation attorney, Jorge Tenreiro, to its IT department responsible for maintaining the agency's computer systems. Tenreiro previously led six major lawsuits against cryptocurrency exchanges. Meanwhile, the SEC has also adjusted the position of a lawyer involved in formulating accounting guidance on cryptocurrency custody, which had previously created obstacles for banks offering cryptocurrency custody services to customers.
Previous report, Bloomberg ETF analyst Eric Balchunas cited The New York Times reporting that the SEC is downsizing its cryptocurrency enforcement division, with some lawyers and staff being reassigned to other roles.
