Head of Crypto Enforcement at US SEC David Hirsch Resigns Does This Indicate the End of the Ripple Case

David Hirsch, the head of enforcement at the SEC, has decided to step down from his position. His departure was made public in a recent announcement, revealing that last Friday marked his final day after serving nine years at the agency. As the leader of the Crypto Asset and Cyber Unit in the Division of Enforcement, Hirsch was deeply involved in all major initiatives undertaken by the SEC.

His resignation comes at a critical juncture, coinciding with potential regulatory changes within the crypto industry. Notable highlights of Hirsch’s tenure include pursuing legal action against Coinbase and Solana. In a recent interview, he delved into the allegations surrounding Coinbase’s trading of unregistered securities, emphasizing the SEC’s authority over platforms engaged in securities transactions. He stressed that the omission of Bitcoin and Ethereum from the list of targeted assets was of lesser significance compared to other securities being included.

In a message shared on his LinkedIn profile, Hirsch expressed, “Last Friday marked the end of my nearly 9-year journey with the SEC. Over this period, I had the privilege of working on intricate and challenging investigations and matters beyond my initial expectations when I first joined the agency as a staff attorney in the Fort Worth Regional Office. I am particularly proud of the groundbreaking work accomplished by the team at the Crypto Assets and Cyber Unit that I had the honor of leading.” He acknowledged the heavy litigation workload faced by the agency, making it challenging to pursue every case.

In a previous statement supporting Gensler, Hirsch recognized that it was not their place to hinder the development of new digital products. He distanced himself from Gensler’s remarks, emphasizing adherence to legal protocols at all times.

Hirsch also addressed the SEC’s mishandling of the DeBox case, citing the closure of its office following the unsuccessful crypto lawsuit. He pointed out multiple errors made by the SEC during the course of that case.

Additionally, South Korea’s upcoming crypto legislation may lead to the delisting of 600 altcoins if they fail to meet the necessary requirements.