SEC’s Former Head of Cyber Unit Joins Coinbase’s Law Firm

The previous head of the Securities and Exchange Commission’s (SEC) Cyber Unit is transferring to private practice.

Robert A. Cohen will join the law firm Davis Polk & Wardwell LLP as a partner. The company is known for representing several crypto companies including Coinbase, as well as huge legacy financial institutions, a Wall Street Journal report stated.

Cohen offered his acquiescence in July, after 15 years of government service with the SEC. His departure purportedly leaves the cyber unit without a head.

As lead of the Cyber Unit, Cohen supervised the precedent-setting claim against Kik Interactive for purportedly engaging in a fraudulent $100 million securities offering. In a recently published rebuttal of the claim, Kik denies the agency’s center complaints.

The cyber unit was established in 2017 as a way to oversee the advancement of the blockchain environment and protect investors. The agency’s command incorporates exploring financial violations, including digital assets, as well as policing cybersecurity issues. Cohen made a name for seeking after a few activities against purportedly fraudulent initial coin offerings.

Cohen said in an interview with WSJ that the regulator carefully weighed which activities to pursue.

“We brought some high-profile cases pretty quickly and we got the message out,” he stated. “But the industry should have a chance to adapt to it. If the goal is to send the message, you should give people a chance to get the message and adjust.”

In his new part, Cohen will be banned from talking with SEC authorities for a year, per “revolving door” regulations.