Regulation
SEC crypto head leaves after 9 years
David Hirsch, a senior official at the United States Securities and Exchange Commission (SEC), announced his departure Monday after nearly nine years on the job.
Hirsch, who led the Crypto Assets and Cyber unit within the SEC’s Division of Enforcement, shared the news of his departure in a LinkedIn post after his last day on Friday.
Pride in achievements and collaborative efforts
Hirsch expressed pride in the groundbreaking work his team accomplished, 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 he faced during his tenure, reflecting on the significant progress made in regulating digital assets and combating cyber threats.
Throughout his tenure, Hirsch played a central role as the SEC’s top cryptocurrency official, focusing particularly on cryptocurrency exchanges and decentralized finance (DeFi) projects.
David Hirsch on Linkedin
He recognized challenges posed by the SEC’s heavy workload but emphasized their commitment to pursuing cases that violated securities laws.
In his farewell message, Hirsch expressed his 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 law enforcement is a collective effort and every success he has been a part of has been a result of combined efforts toward a common goal.
End of an era at the SEC
Looking ahead, Hirsch hinted at new challenges on the horizon, but did not divulge specific details about his future plans.
He mentioned his excitement about vacationing and traveling with his family before his son starts college in the fall, indicating that updates on his next steps would be forthcoming.
Hirsch’s departure marks the end of an important era at the SEC, characterized by notable regulatory and enforcement actions in the digital assets sector.
Under his leadership, the SEC filed 13 accusations against Binance entities and founder Changpeng Zhaoand accused Coinbase of operating as an unregistered securities exchange, broker-dealer and clearing agency.
These actions underscored the SEC’s commitment to maintaining regulatory oversight and protecting investors in the rapidly evolving cryptocurrency landscape.