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David Hirsch, who led the SEC’s enforcement efforts in the crypto space, has stepped down. His departure was announced recently, marking the end of his nine-year tenure at the agency. As the Chief of the Crypto Asset and Cyber Unit within the Division of Enforcement, Hirsch played a significant role in major projects targeted by the SEC.
His resignation comes at a crucial juncture as the crypto industry anticipates regulatory changes. Hirsch’s notable actions included pursuing cases against Coinbase and Solana. In a recent interview, he discussed the SEC’s jurisdiction over platforms dealing with securities, citing Coinbase’s alleged trading of unregistered securities. Hirsch emphasized that while Bitcoin and Ethereum were not targeted, the inclusion of other assets was important.
On his LinkedIn profile, Hirsch mentioned, “This past Friday marked my final day at the SEC after almost nine years. During this time, I worked on complex investigations and issues, particularly proud of the work done by the Crypto Assets and Cyber Unit team I led.” He acknowledged the agency’s heavy litigation workload, making it challenging to pursue every case.
Earlier, while defending Gensler, Hirsch clarified that the SEC doesn’t discourage new digital products but ensures they comply with legal guidelines.
Hirsch also addressed the SEC’s mishandling of the DeBox case, noting errors made during that litigation, which led to the closure of the office handling the failed crypto lawsuit.
