Q&A Discussion with SEC Crypto and Cybersecurity Enforcement Chief David Hirsch

Aliceson (Kristy) Littman is a partner in the Litigation Department, co-head of the Willkie Digital Works practice and a member of the Securities Litigation & Enforcement Practice Group. Kristy represents corporations, registrants and individuals in complex disputes, including regulatory enforcement and white collar defense. She also counsels clients on cryptocurrency and digital assets regulation and cybersecurity matters, including investigations and enforcement actions by financial regulators.
Kristy previously served as the Chief of the Crypto Assets and Cyber Unit in the Division of Enforcement of the U.S. Securities and Exchange Commission (SEC). In that role, she led a group of attorneys and specialists across the nation responsible for investigating and litigating violations of the federal securities laws relating to digital assets, cybersecurity, and cyber-related trading violations. Kristy spearheaded novel enforcement actions relating to crypto exchanges, crypto lending platforms, multibillion-dollar token issuances, crypto trading funds, touting, and unregistered broker-dealers. During her 12 years at the SEC, Kristy held various senior attorney and leadership positions, including serving as Senior Advisor to then SEC Chairman Jay Clayton on enforcement matters and regulatory and policy matters pertaining to digital assets, cybersecurity, and Trading and Markets. In the Trial Unit and the Market Abuse Unit, Kristy led investigations relating to fraudulent compensation schemes at broker-dealers, policy and procedures failures at investment advisers, and litigated insider trading actions. Prior to joining the SEC in 2010, Kristy practiced at an international law firm.

Dave Hirsch is Chief of the Crypto Assets and Cyber Unit within the SEC Division of Enforcement. The Crypto Assets and Cyber Unit is a specialized unit that focuses on crypto assets and decentralized finance, cybersecurity and related internal controls of regulated entities, issuer disclosure of cybersecurity risks and events, cyber-related trading schemes, and dark web-related conduct.
Previously, David served as Counsel to SEC Commissioner Caroline Crenshaw, where he was primarily responsible for matters relating to enforcement along with crypto assets and cybersecurity. He began his career with the SEC as Counsel in the Division of Enforcement, and was a member of the SEC Digital Ledger Technology Working Group and the Dark Web Working Group. Dave is a graduate of the UCLA School of Law and clerked for Judge Edward J. Schwartz in the United States District Court for the Southern District of California. Before joining the SEC, he was a litigator in private practice, and later co-founded and ran a private investigation firm focused on securities fraud investigations. He is a recipient of the SEC Staff Excellence Award, and authored the chapter on Blockchain and Information Security in the Handbook of Blockchain Law.