- SEC has transferred one of its top lawyers to an IT role as its stance on crypto shifted.
- With SEC’s crypto stance shifting, there’s high speculation over how it will affect Ripple’s case.
Since Trump’s political comeback, most governments have faced massive changes.
As such, the U.S. Securities and Exchange Commission (SEC) has signaled its shift toward the previous administration’s treatment of crypto firms.
In a major development, the agency has transferred one of its top crypto litigators to the IT department.
SEC shifts crypto enforcer to IT role
According to the official report, the SEC has started its journey to repair the already tainted relationship with the crypto community.
As such, the agency has moved its top litigator to an office that deals with computer systems.
Jorge Tenreiro who was actively involved in major lawsuits against crypto exchanges and other platforms was transferred to the IT department.
During his time as the senior lawyer, Tenreiro took a major role in the writing of accounting guidance that made it difficult for banks to safeguard crypto for clients.
He was key in deciding the extent of the reach that the SEC had on the crypto market.
Now that the U.S. has a pro-crypto president, the commission is walking away from the antagonistic approach used earlier by Gary Gensler.
Priorities for crypto task force
This latest move by SEC arises as Hester Peirce outlined major priorities for the newly formed crypto task force under the Trump administration.
According to Peirce, there are various issues that the task force will have to address. Firstly, the commission will determine the security statutes of various crypto assets.
Secondly, the task force will work to define the boundaries of the SEC’s jurisdiction.
Thirdly, the task force will establish a structured process that allows token offerings to acquire temporary relief while ensuring adequate disclosures to ensure continued trading on other secondary markets.
Another priority that the task force will follow is reviewing and recommending modifications to current registration frameworks especially on regulation, and crowdfunding ensuring appropriate ways to accommodate token issuances.
The fifth priority on the list is to examine possible updates regarding the special purpose broker-dealer framework, especially over the custody of assets based on their classifications.
Another priority for the task force is to develop custody solutions for investment advisers. Additionally, the task force will ensure on clarifying the regulatory framework for crypto ETPs (exchange-traded products).
Finally, the SEC’s task force will try to foster international cooperation through the creation of a cross-border regulatory sandbox.
Is this the end of the Ripple lawsuit?
With SEC getting a new path while developing mechanisms to better approach the crypto community, there’s widespread speculation over Ripple’s case.
Notably, with the SEC currently shifting in stance over crypto assets, many believe that a settlement or dismissal is a possibility.
However, since the case is on appeal and Ripple is expected to submit its brief by 16th April 2025, the outcome of the matter will be formalized after the fact.
As such, if the SEC decides to drop the case, it will take place in April or the following month after the commission gets another Chair in March.
Read XRP’s Price Prediction 2025–2026
What it would mean for XRP
UIf the recent developments mean the end of legal troubles for Ripple, it will be good news for its native token XRP.
With legal clarity, many institutional investors will turn to the altcoin. A growing adoption rate by institutions and retailers will be a huge boost to see XRP reach new highs.
