Regulation
SEC Crypto Chief Hirsch Resigns After Nearly a Decade
Hirsch has played a key role in enforcing regulations against cryptocurrency exchanges and decentralized finance (DeFi) projects.
David Hirsch, head of the Securities and Exchange Commission’s (SEC) Crypto Asset and Cyber Unit, has resigned after nearly nine years with the agency. Starting as a staff attorney, Hirsch rose through the ranks to lead one of the most critical units within the SEC.
His tenure has seen significant developments and challenges in the field of cryptocurrency enforcement.
Reflecting on his mandate
On June 17, Hirsch took command LinkedIn to announce his departure.
“Last Friday was my last day with the SEC after nearly 9 years, Hirsch wrote. “During that time I have had the opportunity to work on more complex and challenging investigations and matters than I ever imagined when I joined the SEC. agency as a staff attorney. at the Fort Worth regional office.”
Hirsch began serving as head of the Crypto Asset and Cyber Unit in October 2022, having served as solicitor since 2015.
During his nearly nine years at the SEC, Hirsch became known for his stringent enforcement actions against cryptocurrency exchanges and decentralized finance (DeFi) projects. He has played an integral role in shaping the SEC’s approach to cryptocurrency regulation, often finding himself at the center of high-stakes legal battles.
Hirsch acknowledged the heavy litigation load the SEC faces, noting, “The agency can’t prosecute everything, but it’s not done chasing down those it believes are violating securities laws.”
One of his most significant contributions was leading the Crypto Assets and Cyber Unit. Under his leadership, the unit has prosecuted numerous high-profile cases, setting precedents and enforcing compliance in an often controversial and rapidly evolving industry.
“I am particularly proud of the historic work accomplished by the Crypto Assets team and Cyber Unit that I have had the privilege of leading,” said Hirsch.
Future projects
While Hirsch didn’t provide specific details about his next career move, he did mention taking some time off before sharing his plans. Reflecting on his departure, he stated:
“It is difficult to leave the agency that has given me so much, but I am excited for the next set of challenges that may come my way.”
Hirsch expressed gratitude to his colleagues for their shared commitment to enforcing the law and protecting investors.
The key role of the SEC in the cryptocurrency sector
With Hirsch’s departure, the SEC remains a key player in the cryptocurrency landscape, especially with the growing politicization of cryptocurrency issues in the United States ahead of the presidential election.
The agency has addressed growing pressure from legislators and industry stakeholders. Recently, there have been calls for the SEC to approve spot Ethereum exchange-traded funds.
Meanwhile, SEC Chairman Gary Gensler continues to be a polarizing figure within the crypto community, known for his strict regulatory stance.