Regulation
SEC Cryptocurrency Chief Quits After 9 Years
David Hirsch, a top official at the U.S. Securities and Exchange Commission (SEC), announced his departure Monday after nearly nine years of service.
Hirsch, who headed the Crypto Assets and Cyber Unit within the SEC’s Division of Enforcement, shared the news of his exit in a LinkedIn post following his last day on Friday.
Pride in accomplishments and collaborative efforts
Hirsch expressed pride in his team’s pioneering work, recognizing the collaborative efforts and dedication of his colleagues and partners across state, federal and international regulatory and law enforcement agencies.
He acknowledged the complex and challenging nature of the investigations and issues addressed during his tenure, reflecting on the significant progress made in regulating digital assets and combating cyber threats.
During his tenure, Hirsch played an integral role as the SEC’s lead enforcer in the cryptocurrency industry, specifically focusing on cryptocurrency exchanges and decentralized finance (DeFi) projects.
David Hirsch on Linkedin
He acknowledged the challenges posed by the SEC’s large workload but they emphasized their commitment to prosecuting cases that violated securities laws.
In his farewell message, Hirsch expressed deep gratitude to his mentors, leaders, colleagues and friends, recognizing the invaluable contributions of his partners in achieving the SEC’s mission.
He reiterated that securities enforcement is a collective effort and that every success he has been a part of is the result of joint efforts towards a common goal.
End of an era in the SEC
Looking ahead, Hirsch hinted at new challenges on the horizon, but did not reveal specific details about his future plans.
She mentioned her excitement for a break and a trip with her family before her son heads off to college in the fall, indicating that updates on her next steps would be coming.
Hirsch’s departure marks the end of a significant era for the SEC, characterized by notable regulatory and enforcement actions in the digital assets sector.
Under his leadership, the SEC submitted 13 allegations against Binance entities and founder Changpeng Zhaoand accused Coinbase of operating as an unregistered stock exchange, broker, and clearing house.
These actions highlight the SEC’s commitment to maintaining regulatory oversight and protecting investors in the rapidly evolving cryptocurrency landscape.