David Hirsch Head of Crypto Enforcement at the US SEC Resigns Could this indicate the conclusion of the Ripple case
David Hirsch, the head of enforcement at the SEC, has resigned from his position. His departure was announced in a post revealing that Friday marked his final day after serving at the agency for nine years. As the leader of the Crypto Asset and Cyber Unit in the Enforcement Division, Hirsch played a crucial role in all major projects pursued by the SEC.
His resignation comes at a significant juncture, coinciding with potential regulatory changes in the cryptocurrency industry. Hirsch’s notable actions included bringing cases against Coinbase and Solana. In a recent interview, Hirsch discussed Coinbase’s alleged trading of unregistered securities, emphasizing the SEC’s authority over platforms dealing in securities. He emphasized that the exclusion of Bitcoin and Ethereum from the list of targeted assets was less significant than the inclusion of other securities.
In a statement on his LinkedIn page, Hirsch expressed, “Last Friday marked the end of my tenure at the SEC after nearly 9 years. During this time, I had the opportunity to work on more complex and challenging investigations and issues than I could have ever imagined when I first joined the agency as a staff attorney in the Fort Worth Regional Office. I am especially proud of the groundbreaking work accomplished by the team at the Crypto Assets and Cyber Unit that I had the privilege to lead.” He acknowledged the agency’s heavy caseload, making it challenging to pursue every case.
While defending Gensler in the past, Hirsch recognized that it is not the SEC’s role to discourage the development of new digital products. He distanced himself from Gensler’s remarks, stating that they always adhere to legal standards.
Hirsch also addressed the mishandling of the DeBox case by the SEC, explaining the agency’s decision to close its office following the failed cryptocurrency lawsuit. He highlighted several errors made by the SEC during that case.