PANews reported on December 3 that Jorge Tenreiro, former head of the U.S. Securities and Exchange Commission’s (SEC) encryption and network department, has been promoted to chief litigation counsel, responsible for leading the SEC’s litigation and investigation work. His appointment comes just a few weeks before the Trump administration takes over the White House.

Tenreiro joined the SEC's Crypto and Cyber Division in 2022, serving as deputy director and taking over as head of the division in June 2023. He led the SEC's litigation against several important players in the crypto industry, including Kraken, Coinbase, Tron, and Ripple Labs, and participated in the FTX case and the settlement of Terraform Labs and its former CEO Do Kwon, which brought the SEC a record settlement of $4.47 billion.