SEC’s Crypto Lead Departs After 9 Years

David Hirsch, a senior official at the U.S. Securities and Exchange Commission (SEC), announced his departure on 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 the groundbreaking work accomplished by his team, crediting 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 strides made in regulating digital assets and combating cyber threats.

Throughout his tenure, Hirsch played a pivotal role as the SEC’s main enforcer in the cryptocurrency space, particularly focusing on cryptocurrency exchanges and decentralized finance (DeFi) projects.

He recognized the challenges posed by the SEC’s extensive workload but emphasized their commitment to pursuing cases that violated securities laws.

In his farewell message, Hirsch expressed deep gratitude to his mentors, leaders, colleagues, and friends, acknowledging the invaluable contributions of his partners in achieving the SEC’s mission.

He reiterated that securities enforcement is a collective effort, and every success he was a part of resulted from the combined efforts towards a common goal.

End of an Era at the SEC

Looking ahead, Hirsch hinted at new challenges on the horizon, though he did not disclose specific details about his future plans.

He mentioned his excitement for a break and travel with his family before his son heads to college in the fall, indicating that updates on his next steps would be forthcoming.

Hirsch’s departure marks the end of a significant era at the SEC, characterized by notable regulatory actions and enforcement in the digital assets sector.

Under his leadership, the SEC filed 13 charges against Binance entities and founder Changpeng Zhao, and charged Coinbase for operating as an unregistered securities exchange, broker, and clearing agency.

These actions underscored the SEC’s commitment to maintaining regulatory oversight and protecting investors in the rapidly evolving cryptocurrency landscape.