Dan Berkovitz, normal counsel for the USA Securities and Alternate Fee, mentioned he will likely be leaving the company after greater than a yr.
In a Dec. 22 announcement, the SEC mentioned Berkovitz will depart on Jan. 31. A former commissioner with the Commodity Futures Buying and selling Fee, Berkovitz joined the company in November 2021. On the time, he mentioned he deliberate to work with SEC chair Gary Gensler on a “regulatory agenda that may improve investor safety.”
“After thirty-four years of public service, it’s time for me to pursue new and totally different challenges and alternatives,” mentioned Berkovitz.
It is unclear whether or not Berkovitz intends to hitch the non-public sector after leaving the SEC. Brian Quintenz, who served as a CFTC commissioner from 2017 to 2021, joined enterprise capital agency Andreessen Horowitz in September 2021 as an advisor to the corporate’s crypto crew.
Megan Barbero, the SEC principal deputy normal counsel, will assume Berkovitz’s place upon his departure. Gensler mentioned her development got here at a “essential time” for the SEC.
Throughout his time on the CFTC, Berkovitz mentioned the company’s enforcement actions within the crypto house have been “aggressive,” citing a $100 million civil financial penalty towards derivatives change BitMEX. Many have additionally criticized Gensler and the SEC for the company’s “regulation by enforcement” strategy to crypto.
Associated: SEC recordsdata unregistered securities fees towards Thor Token creators for 2018 ICO
In 2022, the SEC particularly labeled 9 tokens as “crypto asset securities” in an insider buying and selling case involving a former supervisor at crypto change Coinbase. The company has additionally introduced fees towards former FTX CEO Sam Bankman-Fried for allegedly defrauding prospects and diverting the change’s funds to Alameda.
