The US Securities and Exchange Commission’s (SEC) head of the crypto asset enforcement division, David Hirsch, has stepped down today. Indeed, Hirsch made the announcement through a LinkedIn post after leading the agency’s digital asset enforcement team for nearly 10 years.
Hirsch revealed that Friday was the last day of his nine-year career with the SEC. Additionally, he noted his pride in “the historic work done by the Crypto Asset and Cyber Unit team I had the privilege to lead.”
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SEC Crypto Enforcement Head Steps Down
Cryptocurrency companies and the SEC have had a contentious relationship over the last several years. The two sides have been engaged in a plethora of legal battles. Moreover, they have struggled to cooperate on any regulatory framework for the growing sector.
A large part of that dissension was the agency’s regulation-by-enforcement approach. Now, that could be set to face a notable change. Specifically, the SEC’s head of crypto asset enforcement has stepped down.
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David Hirsch announced his exit after leading the agency’s enforcement approach. In September of last year, Hirsh was adamant about the SEC’s willingness and emphasis on legal action. They had seemingly made good on that expectation, with an increased focus on enforcement action.
“Every success I was a part of was the direct result of collaboration and combined efforts towards a common goal,” Hirsch stated. However, he did not reveal what was planned for his career after departing the agency. Furthermore, the SEC has not addressed the resignation, or commented on an impending replacement.
The cryptocurrency market has become an increasingly important political point of discussion in recent months. Subsequently, many expect a politically motivated shift in perspective on the industry from the SEC