After nearly nine years of service, David Hirsch, a key figure in the US Securities and Exchange Commission’s (SEC) Crypto and Cyber Assets Unit, has announced his departure from the agency ¹. Hirsch led the unit in the Division of Enforcement and played a crucial role in shaping the SEC’s approach to regulating digital assets. His departure comes at a time when the SEC is facing increased scrutiny over its handling of cryptocurrency regulation.

Hirsch joined the SEC in 2015 as an enforcement attorney in the Fort Worth Regional Office. Over the years, he worked on numerous high-profile cases, including the SEC’s lawsuit against Ripple Labs and its executives. In 2020, he became counsel to Commissioner Caroline Crenshaw before assuming the role of leading the Crypto and Cyber Assets Unit in 2022.

During his tenure, Hirsch oversaw several significant enforcement actions, including the SEC’s charges against Binance entities and founder Changpeng Zhao, as well as the agency’s lawsuit against Coinbase for operating as an unregistered securities exchange, broker, and clearing agency. His leadership and expertise were instrumental in shaping the SEC’s approach to regulating digital assets, and his departure will likely be felt within the agency.

Hirsch’s departure comes amid growing tensions between the SEC and the cryptocurrency industry. The agency has faced criticism from some quarters for its perceived hostility towards digital assets, and its handling of cryptocurrency regulation has been the subject of much debate. Hirsch’s exit may mark a shift in the SEC’s approach to regulating digital assets, and it will be interesting to see how the agency navigates this complex and rapidly evolving space in the future.

In a LinkedIn post announcing his departure, Hirsch expressed his gratitude to his colleagues and mentors, saying that he was “particularly proud of the historic work done by the Crypto Assets and Cyber Unit team” he led. He also hinted at new challenges ahead, saying that he was “very excited for the next set of challenges” and looked forward to sharing more about his future plans soon. His departure from the SEC marks the end of an era, and his legacy will likely be felt within the agency and the wider cryptocurrency industry for years to come.