David Hirsch, the Chief of the Crypto Asset and Cyber Unit at the U.S. Securities and Exchange Commission (SEC), has left the agency after nearly nine years of service. In a post on LinkedIn, Hirsch announced his departure, stating, “This past Friday was my last day with the SEC.” During his tenure, Hirsch played a crucial role in navigating the complex landscape of cryptocurrency enforcement. His leadership within the Crypto Asset and Cyber Unit was instrumental as the SEC grappled with defining and enforcing regulations in the rapidly evolving digital space.
Hirsch’s resignation comes at a pivotal moment for the SEC, which faces mounting political pressure and heightened scrutiny as the presidential elections draw near. Notably, he refuted rumors that he had joined memecoin launch platform Pump.Fun as head of trading, clarifying that the claim was false.
As the SEC’s crypto enforcer, Hirsch oversaw high-profile enforcement actions related to cryptocurrency exchanges and decentralized finance (DeFi) projects. His departure follows a trend of key personnel changes within the SEC’s enforcement division, including the recent move of former SEC lawyer Ladan Stewart to a private law firm. The agency will undoubtedly feel the impact of his absence as it continues to navigate the ever-evolving crypto landscape.
David Hirsch’s departure from the SEC marks the end of an era for the agency’s Crypto Asset and Cyber Unit. His legacy includes significant contributions to the regulation and enforcement of cryptocurrency-related matters. As the SEC adapts to new challenges, it remains to be seen who will step into Hirsch’s shoes and continue the agency’s mission in this dynamic field.