Another Good News for Cryptocurrencies from the US: SEC Lost Its Biggest Card! - Coin Bulletin

The US Securities and Exchange Commission (SEC) has removed its chief legal officer responsible for one of the most important cases to end its ongoing conflict with the cryptocurrency market.

SEC transferred Jorge Tenreiro, who managed many cases against cryptocurrency exchanges and platforms last week, to an office managing the agency's computer systems. At the same time, they also reassigned a lawyer who prepared controversial accounting guidelines that make it difficult for banks to hold cryptocurrency assets for their customers to a different position. SEC officials refrained from commenting on these appointments.

Olive branch to cryptocurrencies from the SEC

SEC's move is seen as part of the agency's efforts to reduce tension with the cryptocurrency market. Especially as major cryptocurrency exchanges spend millions of dollars to elect crypto-friendly politicians, Donald Trump's support for this field is growing stronger. Trump openly supported crypto during the last election process and called for the creation of a new regulatory framework with a presidential decree issued on January 23rd.

Tenreiro, who is normally in a position that is not affected by political changes, is being shifted to the agency's information technology office with the SEC's takeover by Republicans, which is interpreted as a sign that the SEC is trying to pursue a more market-friendly path.