DeFi
SEC crypto chief Hirsch resigns after nearly a decade
Hirsch 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 lawyer, Hirsch rose through the ranks to lead one of the SEC’s most critical units.
His tenure was marked by significant developments and challenges in the field of cryptocurrency application.
Reflection on his mandate
On June 17, Hirsch surrendered LinkedIn to announce his departure.
“Last Friday was my last day with the SEC after almost 9 years,” Hirsch wrote. “During that time, I had the opportunity to work on more complex and difficult investigations and issues than I otherwise would have. never imagined when I joined the agency as a lawyer. in the Fort Worth regional office.
Hirsch began his role as head of the Crypto Asset and Cyber Unit in October 2022, after serving as a law enforcement attorney since 2015.
During his nearly nine years at the SEC, Hirsch became known for his tough measures against cryptocurrency exchanges and decentralized finance (DeFi) projects. He played a central role in shaping the SEC’s approach to crypto regulation, often finding himself at the center of high-stakes legal battles.
Hirsch acknowledged the heavy litigation burden the SEC faces, noting, “The agency can’t tackle everything, but it is not done pursuing those it considers to be violating securities laws.” movable. »
One of his most important contributions was leading the Crypto Assets and Cyber unit. Under his leadership, the unit handled 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 and Cyber Unit team that I have had the privilege of leading,” said Hirsch.
Future plans
Although Hirsch didn’t provide specific details about his next career move, he did mention taking a break before sharing his plans. Reflecting on his departure, he said:
“It’s difficult to leave the agency that has given me so much, but I’m excited about the next set of challenges that may come my way.”
Hirsch expressed gratitude to his colleagues for their shared commitment to upholding the law and protecting investors.
The Crucial Role of the SEC in Crypto
With Hirsch’s departure, the SEC remains a vital player in the cryptocurrency landscape, especially with the increasing politicization of cryptocurrency issues in the United States as the presidential elections approach.
The agency has confronted growing pressure from lawmakers and industry players. Recently, there have been calls for the SEC to approve Ethereum spot exchange-traded funds.
Meanwhile, SEC Chairman Gary Gensler continues to be a polarizing figure within the crypto community, known for his strict regulatory stance.