SEC Crypto Chief Steps Down After Remarkable 9 Years Of Service

Key Points:

• SEC’s Crypto Asset and Cyber Unit head has confirmed his departure.
• The SEC is under pressure over its refusal to approve Ethereum funds.

SEC Crypto Chief departs after nine years, leaving after a period of significant regulatory collaboration. His exit follows criticism over the SEC’s refusal to approve Ethereum ETFs.

The head of the Crypto Asset and Cyber Unit in the Division of Enforcement at the United States Securities and Exchange Commission (SEC) has confirmed his departure after almost nine years at the commission.

SEC Crypto Chief Departs after Nine-Year Tenure

While at the SEC, David Hirsch worked on complex and high-profile cases. He began his career as a staff attorney in the Fort Worth Regional Office and rose to become chief of the Crypto Assets and Cyber Unit.

His departure this summer leaves the agency after a period that saw tremendous achievements in state, federal, and international regulators and law enforcement collaboration.

According to the statement, he was hugely excited about the new set of challenges ahead while almost choking up as he described how hard it was to leave an agency that had given him so many chances. He said he could not talk in particular but would tell much more soon.

Readmore: CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals

Increased Pressure on SEC and Other Staff Changes

Before joining the SEC, David Hirsch sat on the legal advisory board at NYU’s Center for Cybersecurity. The SEC’s role appears enhanced since cryptocurrencies are likely to remain in the political spotlight in the US, with presidential elections coming sometime next year.

The regulatory agency has recently been under more pressure from lawmakers over its refusal to approve Ethereum spot exchange-traded funds. Communication and Technology Chair Gary Gensler is more at loggerheads with the whole crypto movement.

In other SEC-related news, Ladan Stewart, one of the members celebrated for litigating major cases against Ripple and Coinbase, has already resigned from the SEC’s enforcement division. She joined the partnership of the law firm of White & Case LLP.