The head of the US SEC's crypto assets and cyber division, David Hirsch, is resigning. Leaves the agency after nine years of work (!).#TheBlockreports.

A reputationally bad story for Gary Gensler, regardless of the reasons for leaving. Especially after in early June, the SEC office in Salt Lake City, which was “caught” for 1.75 million $ in a lawsuit against Debt Box miners, was simply closed.

Importance for the market in practical terms - replacement as head of the department. Will it be a person with a negative perception of the crypto market, or at least neutral.

The SEC in this sense is an interesting structure. They do not have mandatory public loyalty of employees to management decisions. For example, in September 2023, US SEC Commissioner Esther Pierce asked crypto companies not to leave the United States and announced that she was upset by the agency’s reluctance to clarify the regulation of cryptocurrencies. And before that, in February 2023, she stated that the Commission’s actions regarding the staking services of the#Krakencrypto exchange were not “a fair way of regulation.”