The head of the United States Securities and Exchanges Commission’s cyber unit, Robert Cohen has recently announced his resignation from the position.
Cohen had served on the position for little less than two years starting his responsibilities as the head of the cyber unit in 2017.
Many would say that Cohen was thrust into action without any prior experience of the blockchain technology, as the beginning of his position directly correlated with the crypto market boom and the “ICO season”.
While Cohen was the head of the cyber unit he had to deal with multiple law enforcement issues in regards to the Kik ICO as well as some promotional services rendered by US celebrities on social media channels.
The celebrities in question are of course DJ Khaled and Floy Mayweather who was paid to advertise a local ICO on their Instagram accounts.
Naturally, Cohen doesn’t leave with regret as he has called his “reign” a more than pleasant experience, but the ICO owners may not directly call it so.
Now that Cohen has left, many think that the SEC will change its stance towards initial coin offerings, which has already been somewhat confirmed by their dealing with Blockstack and its $28 million ICO.
There have also been reports of numerous gaming-related projects being allowed coin emittance as they didn’t quite fall under the securities classification.
Should the SEC change its stance drastically, then most of the crypto community will be left with the impression that the commission is full of bureaucracy, which may be the sole reason for them to retain the policies made by Cohen.