SEC Chief Of Crypto Enforcement Departs Amid Resignations, Office Closure

June 17, 2024

David Hirsch, the U.S. Securities and Exchange Commission (SEC) Chief of the Crypto Asset and Cyber Unit, has announced his departure amid a wave of resignations and the planned closure of the agency’s Salt Lake Regional Office.

Hirsch, the head of the Securities and Exchange Commission’s (SEC) Crypto Assets and Cyber Unit, announced his departure from the agency after almost nine years of service. His departure coincides with the recent resignations of two attorneys involved in the Digital Licensing Inc. (DEBT Box) case and the announcement of the SEC’s Salt Lake regional office closure.

Hirsch’s expertise spanned several critical areas, including fraud investigations, securities fraud litigation, blockchain and digital assets, cybersecurity, antitrust violations, the False Claims Act (FCA), real estate transactions and valuation, data analysis, and due diligence. His leadership was instrumental in navigating the evolving landscape of crypto and cybersecurity regulations.

“This past Friday was my last day with the SEC after almost 9 years. During that time I had the opportunity to work on more complex, challenging investigations and issues than I ever imagined when I joined the agency as a staff attorney in the Fort Worth Regional Office. I’m particularly proud of the historic work done by the Crypto Assets and Cyber Unit team I had the privilege to lead,” Hirsch’s official statement read.

“I am deeply indebted to too many mentors, leaders, colleagues and friends to name here. And that includes amazing partners across state, federal and international regulators and law enforcement. As I often say, securities enforcement is a team sport, and that was certainly true throughout my tenure. Every success I was a part of was the direct result of collaboration and combined efforts towards a common goal. Thanks to all of you,” he further said.

While Hirsch did not disclose his next professional destination, he hinted at exciting future endeavors, stating, “While it is hard to leave an agency that has given me so much, I am very excited for the next set of challenges. I look forward to sharing more about that soon, but for now I’m excited for a break and travel with my family before my son heads to college in the fall.”

Hirsch’s departure follows a series of notable changes within the SEC. In April, two lead attorneys involved in the controversial case against Digital Licensing Inc. (DEBT Box), Michael Welsh and Joseph Watkins, resigned following alleged potential termination threats from the SEC. 

Earlier this month, the SEC also announced plans to close its Salt Lake Regional Office (SLRO), the smallest of its 11 regional offices. This move, part of a comprehensive review of the agency’s budget and organizational efficiency, aims to streamline operations, consolidating the SEC’s regional presence to 10 offices. The current SLRO staff will be repositioned to other SEC offices across the state, ensuring their expertise remains integral to the agency’s mission.

Read More

Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.

Leave a Reply

Your email address will not be published.