David Hirsch, the head of crypto enforcement at the SEC, has resigned after nearly ten years, signaling a significant change in the agency’s approach to crypto regulation. Hirsch, who led the SEC’s Crypto Asset and Cyber Unit within the Division of Enforcement, played a key role in overseeing and regulating the cryptocurrency market. His departure marks a major shift within the regulatory agency.
In a LinkedIn post announcing his resignation, Hirsch reflected on his tenure and expressed gratitude for the opportunity to work on various investigations and lead the Crypto Assets and Cyber Unit team. He also refuted rumors that he had joined Pump.fun, a memecoin launch platform, as head of trading, calling them “false.” Instead, he mentioned a desire for new challenges and a break to travel with his family before his son starts college in the fall.
During his time at the SEC, Hirsch’s enforcement strategy became notably more aggressive, with actions against digital asset companies frequently threatening their very existence. This departure raises questions about the impact on future regulation of crypto assets and how it will influence the SEC’s policies under Chairman Gary Gensler. The crypto community is closely watching for any potential shifts in compliance and law enforcement strategy within the crypto space, as it could have significant implications for both investors and companies.
The departure of Hirsch has led to uncertainty in the market, with Ripple (XRP) currently trading at $0.4938, reflecting the market’s reaction to regulatory uncertainties. The crypto community is advised to keep an eye on any developments in the SEC’s approach to crypto regulation.