On June 17, David Hirsch, the enforcement chief in charge of crypto assets at the SEC, announced his departure from the agency after almost nine years of service. He expressed pride in the work accomplished by the Crypto Assets and Cyber Unit team under his leadership.
Hirsch took on the role of leading the SEC’s Crypto Asset and Cyber Unit in the Division of Enforcement in October 2022. During his tenure, the agency handled around 45 cases related to cryptocurrencies. Prior to this position, Hirsch worked as an enforcement attorney at the SEC’s Fort Worth Regional Office for several years.
Between September 2020 and October 2022, Hirsch served as counsel to SEC Commissioner Caroline Crenshaw, known for her critical views on crypto. Despite his departure, Hirsch has not revealed detailed plans for the future but mentioned that more information would be forthcoming after a personal break.
In response to a claim by memecoin launchpad Pump.fun that he had joined their project and launched over 100 coins, Hirsch refuted the statement, calling it false. The spread of such misinformation was criticized by Fox Business reporter Eleanor Terrett as “cringe-worthy,” highlighting the strict regulations within the SEC that prohibit staff from holding cryptocurrencies while working at the agency.
Through David Hirsch’s departure, the SEC loses a key figure in its efforts to regulate and enforce laws in the crypto space. His legacy includes spearheading numerous cases and initiatives aimed at ensuring compliance within the industry. As the crypto market continues to evolve, the SEC will need to fill the void left by Hirsch’s exit and uphold its commitment to overseeing digital assets effectively.
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