Key Takeaways
- David Hirsh has left the SEC to affix McGuireWoods’ securities observe.
- Hirsh’s expertise at SEC will improve McGuireWoods’ regulatory counseling.
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David Hirsch, who not too long ago led the Securities and Trade Fee’s Crypto Belongings and Cyber Unit (CACU), has joined legislation agency McGuireWoods as a accomplice in Washington, D.C. Hirsch will likely be a part of the agency’s securities enforcement and regulatory counseling observe.
As CACU chief within the SEC’s Division of Enforcement, Hirsch oversaw first-of-their-kind investigations, resolutions, and litigation associated to crypto property. He was answerable for recommending and implementing the SEC’s cybersecurity enforcement priorities and performed a key function in establishing the company’s method to imposing registration obligations for varied crypto asset actions.
Previous to changing into CACU chief in 2022, Hirsch served as counsel to SEC Commissioner Caroline Crenshaw. On this function, he reviewed and suggested on enforcement suggestions earlier than the SEC and ceaselessly engaged with market individuals, advocates, media, and legislative workers.
Regulatory regime
Hirsch’s transfer to McGuireWoods comes amid rising regulatory scrutiny of the crypto business in the US. Lately, the SEC has taken a extra aggressive stance in opposition to crypto corporations, submitting a slew of lawsuits in opposition to high-profile firms resembling Coinbase, Kraken, and Uniswap. Extra not too long ago, the SEC has been focusing on enterprise capital corporations working with crypto firms.
At McGuireWoods, Hirsch will concentrate on a broad securities enforcement observe, together with advising shoppers on issues associated to cybersecurity and crypto property. Robert Muckenfuss, chair of the agency’s Monetary Providers & Securities Enforcement Division, emphasised the significance of Hirsch’s expertise, stating:
“Cybersecurity and crypto are quickly evolving areas of the legislation and Dave’s distinctive background and intensive expertise in securities enforcement will assist our shoppers keep forward of the curve.”
The addition of Hirsch to McGuireWoods’ crew displays the rising demand for authorized experience in crypto and cybersecurity regulation. Corporations with specialised information in these areas are more likely to play a vital function in serving to shoppers navigate advanced compliance challenges and enforcement actions within the area.
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