SEC Leadership Shakeup: Brian Daly and Kurt Hohl Step Into Key Roles — What It Means for Crypto?

The Securities and Exchange Commission has announced two high-profile leadership appointments that could impact the regulatory tone for digital assets.

Brian T. Daly will take over as Director of the Division of Investment Management on July 8, while Kurt Hohl will assume the role of Chief Accountant on July 7.

The new appointments come after crypto-friendly Paul Atkins was sworn in as Chairman of the SEC in April, marking a leadership shift that is being welcomed by the digital asset industry.

SEC’s Brian Daly Brings Decades of Fund Advisory Experience to Top Role

Daly, a seasoned figure in the investment management legal sphere, brings decades of experience advising hedge funds, asset managers, and private investment firms.

His background includes senior roles at Akin Gump and Schulte Roth & Zabel, as well as in-house compliance leadership at top-tier funds like Millennium Partners and Raptor Capital.

Daly’s appointment signals a potential shift toward rulemaking that is more attuned to industry dynamics, including evolving digital asset strategies within traditional fund structures.

“Brian has deep familiarity with all levels of the investment management industry,” said Atkins.

Daly added that he is eager to help tailor regulation “within statutory authority” while maintaining strong compliance expectations for advisers and fund managers.

His track record suggests a regulatory approach grounded in legal precision and institutional pragmatism, qualities likely to influence how crypto-related fund products, like spot ETH or BTC ETFs, are evaluated moving forward.

Alongside Daly, the return of Kurt Hohl as Chief Accountant brings added weight to the SEC’s oversight capabilities.

It's personnel day at the SEC.

– Jamie Selway has officially been named T&M director.
– Akin Gump partner Brian Daly has been picked to lead the agency's Investment Management division.
– Kurt Hohl is joining the agency as chief accountant. https://t.co/wu7RQLEAWl

— Declan Harty (@declanharty) June 13, 2025

With nearly four decades of auditing experience, including a lengthy tenure as a partner at Ernst & Young, Hohl’s focus will be on strengthening accounting standards and transparency, key issues as more crypto firms seek to go public or comply with U.S. disclosure laws.

Hohl previously served at the SEC in the 1990s, where he authored the foundational Financial Reporting Manual.

His return signals a renewed focus on rigorous reporting and clarity in financial statements, especially relevant for crypto-native companies navigating IPOs or stablecoin disclosures.

“At a time when capital markets are evolving rapidly, these appointments position the SEC to respond more effectively to both innovation and investor protection,” Atkins said.

SEC Drops Biden-Era Lawsuits

Under Atkins’ leadership, the SEC has already withdrawn or delayed several prominent cases against crypto firms.

The agency dropped its lawsuits against Coinbase and Cumberland DRW earlier this year, and a separate investigation into Uniswap Labs closed in February without enforcement action.

Last week, the agency also closed its investigation into CyberKongz, a prominent Ethereum-based NFT and gaming project, with no enforcement action taken.

More recently, the SEC announced it would not pursue further legal action against Richard Schueler, better known as Richard Heart, the founder of Hex, PulseChain, and PulseX.