The SEC’s cryptocurrency chief is leaving the regulatory agency

David Hirsch, head of the Securities and Exchange Commission’s (SEC) crypto unit, has just left the agency. What do we know about the departure of the man who was behind a lot of action in the cryptocurrency sector?

SEC cryptohead abandons ship after 9 years

David Hirsch announced his departure on LinkedIn. The head of the cryptocurrency section held this position for 9 years under the auspices of Gary Gensler, the current director of the Securities and Exchange Commission. David Hirsch does not mention the reasons for his departurebut he appears to be leaving the institution on good terms:

I am particularly proud of the historic work done by the Crypto Assets Unit, a team I had the honor of leading. ยป

๐Ÿ‘‰ To go further – What is security and what does it mean for cryptocurrencies?

David Hirsch mentions new “challenges” to be addressed, therefore, it is likely that he was recruited by another agency or company :

It’s hard to leave an agency that has given me so much, but I’m very excited about the new challenges ahead. ยป

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Are there any changes coming to the SEC?

As a reminder, the United States is in presidential election season. Gary Gensler, chairman of the SEC, was appointed by current President Joe Biden. But Republican candidate Donald Trump is currently the favorite in the polls. His possible election could therefore shuffle the cards within the SEC.

๐ŸŒ Also in the news – Is it Joe Biden’s turn? Democratic Candidate to Participate in ‘Crypto Roundtable’ Soon

Gary Gensler would not be forced out of office if the Republicans won. Historically, however, SEC directors have tended to leave their positions when an opposition president is elected.. So there is a possibility that Gary Gensler will stop leading the agency after November 7th.

The section dedicated to cryptocurrencies has been the target of criticism in recent months anyway. It’s no that Gary Gensler has shown a lot of hostility towards the crypto ecosystem in recent years.

But this trend was strongly criticized by candidate Donald Trump, which also led Joe Biden to moderate his position. So things may soon change for the SECand the US crypto ecosystem as a whole.

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Source: David Hirsch via LinkedIn

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