As a researcher with a background in finance and experience following the regulatory landscape of cryptocurrencies, I have closely watched David Hirsch’s tenure at the Securities and Exchange Commission (SEC). His departure from the agency marks an interesting turn in the regulatory environment for crypto assets.
David Hirsch, who led the Securities and Exchange Commission’s (SEC) Crypto Asset and Cyber Unit, has departed from the agency following his resignation.
In a post on LinkedIn, Hirsch formally announced his retirement following nearly ten years of spearheading the Digital Asset Enforcement Team at the Securities and Exchange Commission (SEC).
Hirsch Steps Down
In his post, Hirsch shared that he had reached the end of his nearly decade-long tenure with the US Securities and Exchange Commission. He expressed pride in the significant accomplishments of the Crypto Assets and Cyber Unit team during his time as their leader.
“JUST IN: SEC’s head of crypto asset enforcement division resigns.”
Hirsch commenced his position as the leader of the Securities and Exchange Commission’s (SEC) Digital Assets and Cybersecurity Unit in October 2022. Throughout his term, the SEC handled over 45 cases concerning digital assets under Hirsch’s leadership. Previously, Hirsch worked as an enforcement attorney at the SEC’s Fort Worth Regional Office since 2015. Additionally, he served as counsel to SEC Commissioner Caroline Crenshaw from September 2020 until October 2022. Known for her harsh criticism towards crypto, Crenshaw is noteworthy. Hirsch has announced that he will disclose his upcoming plans following a brief personal hiatus.
A Change In The SEC’s Approach?
The Securities and Exchange Commission (SEC) has faced challenges in its dealings with cryptocurrency businesses, marked by numerous lawsuits between the parties. Regrettably, the SEC and crypto firms have yet to collaborate on establishing a regulatory structure for this industry. The main causes of these tensions stemmed from the SEC’s historically aggressive regulatory stance, known as the “regulation-by-enforcement” approach. However, with Hirsch’s departure, there is speculation that this approach may evolve towards more collaborative regulation.
Hirsch emphasizes that the Securities and Exchange Commission (SEC) is more determined than ever to take firms dealing with cryptocurrencies to court for any potential regulatory infringements, focusing intensely on enforcing laws in this sector.
As a successful crypto investor, I can tell you that every achievement I’ve made in this field was not just my own doing. Instead, it was the result of working together with like-minded individuals and pooling our resources, knowledge, and determination to reach a common objective.
Hirsch has announced his departure from the agency without revealing any subsequent intentions. The Securities and Exchange Commission (SEC) has remained silent regarding his resignation and has yet to disclose any information about a possible successor.
Not Moving To Pump.fun
As an analyst, I’ve come across some intriguing information regarding Pump.fun, a well-known memecoin launchpad. They announced on platform X that Hirsch had recently joined their team after having engaging in lengthy discussions with one of their members for several months. Furthermore, Pump.fun proudly declared that Hirsch has been instrumental in launching over a hundred memecoins under their banner on X handle.
As a crypto investor, I’m thrilled to share the news about our latest addition to the team – David Hirsch, who will be taking on the role as our Head of Trading. For quite some time now, we’ve been in discussions with David, formerly known as @a1lon9, and it became clear that his previous career as a regulator no longer brought him the same level of fulfillment. He was ready for a new beginning, and what better way to do that than by doing something you truly love?
Hirsch refuted the allegations, insisting they were unfounded and that he hadn’t participated in any related project. Eleanor Terrett of Fox Business labeled Pump.fun’s statements embarrassing, pointing out that SEC employees are prohibited from holding cryptocurrency during their tenure.
Read More
Sorry. No data so far.
2024-06-18 17:03