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SEC’s Crypto Enforcement Chief David Hirsch Announces Departure
(Originally posted on : Crypto News – iGaming.org )
David Hirsch, the head of the Crypto Asset and Cyber Unit in the Division of Enforcement at the U.S. Securities and Exchange Commission (SEC), has announced his departure from the agency. Hirsch shared this news on LinkedIn on Monday, stating: “This past Friday was my last day with the SEC after almost 9 years.”
Reflecting on His Tenure
During his tenure, Hirsch played a pivotal role in numerous complex and challenging investigations. He expressed pride in the accomplishments of the Crypto Assets and Cyber Unit team, saying, “I’m particularly proud of the historic work done by the Crypto Assets and Cyber Unit team I had the privilege to lead.”
Hirsch highlighted the collaborative nature of securities enforcement, noting, “Securities enforcement is a team sport, and that was certainly true throughout my tenure. Every success I was a part of was the direct result of collaboration and combined efforts towards a common goal.”
While he did not disclose his future plans, Hirsch mentioned, “I am very excited for the next set of challenges. I look forward to sharing more about that soon, but for now I’m excited for a break and travel with my family before my son heads to college in the fall.”
Hirsch has been a key figure in the SEC’s enforcement actions against major cryptocurrency firms. Under his leadership, the SEC aggressively targeted violations in the crypto sector, including unregistered securities offerings, fraud, and market manipulation. Last September, Hirsch cautioned that further enforcement actions against crypto firms not properly registered with the regulator were imminent.
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His departure is significant, occurring amid the SEC’s ongoing efforts to regulate the crypto market, often described as “regulation by enforcement.” Hirsch’s exit marks the end of an era of stringent oversight and could signal changes in how the SEC approaches crypto regulation moving forward.