Bitcoin and XRP Poised for Surge SECs Crypto Asset Unit Head David Hirsch Resigns After Nine Years

Long-time SEC official David Hirsch has announced his departure from the regulatory body overseeing the financial markets.
Recognized for his involvement in high-profile cases, Hirsch’s exit is anticipated to bring a sense of relief that could potentially boost the growth of BTC and XRP.
David Hirsch, who led the Crypto Asset and Cyber Unit within the Division of Enforcement at the United States Securities and Exchange Commission (SEC), has resigned after almost a decade of service. In a statement shared on LinkedIn, he emphasized that his departure signifies a significant shift within the regulatory organization. Hirsch played a crucial role in monitoring and overseeing the rapidly changing cryptocurrency market.
While David did not disclose his future plans, he expressed enthusiasm about spending quality time with his family following his departure.
Throughout his tenure, Hirsch played a key role in shaping the SEC’s approach to enforcing regulations within the cryptocurrency industry. He spearheaded various high-profile investigations and enforcement actions against deceptive and unregistered digital asset offerings. His efforts were instrumental in setting legal precedents and defining regulatory expectations for companies and investors involved in cryptocurrencies.
As David bids farewell to the SEC, the cryptocurrency market is expected to witness notable developments, particularly concerning Bitcoin (BTC) and Ripple (XRP). While his departure may not have an immediate impact on the prices of BTC and XRP, it could lead to a temporary sense of relief for businesses offering services related to these popular digital currencies.
Moreover, David’s exit could influence investor confidence and potentially impact the progress or direction of Ripple’s ongoing legal case.
As the regulatory environment in the cryptocurrency sector continues to evolve, the market remains dynamic and unpredictable. Investors and industry participants are closely monitoring for any regulatory updates or enforcement actions that could affect the market.
The future trajectory of Bitcoin and XRP in the United States is set to be significantly influenced by the regulatory landscape.
In recent news, former US President and current Republican Presidential candidate Donald Trump expressed his strong support for cryptocurrencies based on a previous report from Crypto News Flash.
As the US Presidential election approaches, Donald Trump has made his stance on virtual currencies clear. Besides labeling himself as the “crypto President,” he is contemplating introducing policies to bolster Bitcoin mining operations in the country.
According to blockchain researcher Collin Brown, the decisions made in the USA could shape the future of Bitcoin, XRP, and other cryptocurrencies. Additionally, Presidential candidate Robert F. Kennedy has garnered support from the crypto community for his early endorsement of Bitcoin.
Meanwhile, speculations about Gary Gensler potentially leaving the US SEC are circulating within the crypto community. The chairman, who has been in his position since 2021, was previously rumored to step down in 2023 following criticism from lawmakers who were dissatisfied with his performance.
Gensler and his agency faced setbacks with the Ripple case, experiencing a partial loss. After a lengthy legal battle with Ripple Labs over the alleged sale of unregistered securities in the form of XRP tokens, Judge Analisa Torres ruled in July 2023 that XRP itself does not qualify as an investment contract.