On Wednesday, the Securities and Exchange Commission (SEC) announced the departure of William Hinman by the end of this year.Â
Hinman joined the commission in 2017 and is currently the director of the SECâ€™s Division of Corporate Finance. He also spearheaded the SECâ€™s early work with digital assets, in which role he has made critical contributions to the discussion ofÂ which cryptocurrencies qualify as securities. The announcement says:
“Mr. Hinman led efforts regarding the rapid innovation in digital assets, including by providing a framework that market participants could use to evaluate whether digital assets are offered and sold as securities.”
The SECâ€™s 2018Â launch of FinHub, which focuses on digital assets, was also seen as a Hinman initiative. Valerie Szczepanik, who began her term at the SEC as an advisor to Hinman, currently leads FinHub, in which role the industry hasÂ nicknamed her Crypto Czar.
Current DeputyÂ Shelley Parratt will take over the reigns for Hinman on an acting basis upon his departure.Â