David Hirsch, the 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 crypto head leaves ship after 9 years
David Hirsch announced his departure on the social network LinkedIn. The head of the section dedicated to cryptocurrencies had held this position for 9 years, under the aegis of Gary Gensler, the current director of the Securities and Exchange Commission. David Hirsch does not mention the reasons for his departurebut he seems to leave the institution on good terms:
“I am particularly proud of the historic work carried out by the cryptoassets unit, a team that I had the privilege of leading. »
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David Hirsch mentions new “challenges” to be taken up, it is therefore likely that he was recruited by another agency or company :
“It is difficult to leave an agency that has given me so much, but I am very excited about the new challenges that await me. »
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Any changes coming to the SEC?
As a reminder, the United States is in a presidential election period. Gary Gensler, the chairman of the SEC, was appointed by current President Joe Biden. But the Republican candidate, Donald Trump, is currently the favorite in the polls. His possible election could therefore reshuffle the cards within the SEC.
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Gary Gensler would not be forced out of office if the Republicans won. But historically, SEC directors have tended to leave their positions when a president from the opposition is elected.. There is therefore a possibility that Gary Gensler will cease to lead the agency after November 7.
The section dedicated to cryptocurrencies has in any case been the subject of criticism in recent months. It’s no secret that Gary Gensler has shown great hostility to the crypto ecosystem in recent years.
But the trend was strongly criticized by candidate Donald Trump, which also led Joe Biden to soften his position. So things could change soon for the SECand the US crypto ecosystem as a whole.
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Source: David Hirsch via LinkedIn
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