SEC Ripple lawyer gets promoted, but don't worry, there's good news
The SEC promoted Jorge G. Tenreiro, their lead attorney in the Ripple case, to chief litigation counsel. This happened when the SEC appealed some of the cases it lost previously. Since Tenreiro is not averse to cryptocurrencies, XRP supporters are still quite confident.
Will XRP suffer if Tenreiro gets promoted?
XRP users have different views on this. Fred Rispoli, a lawyer who supports XRP, feels sorry but also sees a turning point. He said: "This is very depressing, but there is also a good side. Tenreiro is a person with no principles and listens to everyone. As long as the price is right, he can switch sides and support cryptocurrencies tomorrow."
Rispoli also said: "Besides, his position is not stable. If he does not support cryptocurrencies under Trump, he will have to leave once the SEC is reorganized."
Although it sounds like a headache, it is not all hopeless. Tenreiro has no stance. He will listen to whoever gives him benefits. Maybe he will start supporting cryptocurrencies tomorrow in order to get promoted and make money.
Now everyone is watching the SEC to see what their attitude is towards XRP. Some people speculate that when Trump takes office on January 20, 2025, SEC Chairman Gary Gensler resigns and the new chairman Paul Atkins is a cryptocurrency fan, the SEC may withdraw the appeal at that time, and XRP fans will be happy.
The Ripple case is now a hot topic in cryptocurrency regulatory negotiations, and the entire industry is watching how the SEC enforces the law.
Tenreiro's promotion shows that the SEC is determined to go against cryptocurrencies. However, if the CFTC takes over part of the regulatory work of cryptocurrencies in 2025, the situation will be different.
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