Robert A. Cohen, the former head of the U. S. Securities and Exchange Commission (SEC) Cyber Unit, will be joining Coinbase’s law firm Davis Polk & Wardwell LLP soon. According to the reports, he is the newest partner in the company.
The executive worked with the SEC for 15 years and quit last month. Every eye was on him ever since, as people were wondering where he would go. After his departure, the division of the SEC is without a leader temporarily, as no one was announced to take his place.
His former unit was, in fact, very focused on the crypto world. It was created back in 2017 by the SEC to check issues involving the blockchain technology.
During his work with the cyber unit, Cohen oversaw several lawsuits and legal activity. He also got famous as he pursued legal action against several Initial Coin Offerings (ICOs). One of the most high-profile cases was the one against Kik Interactive, which happened recently.
Recently, Cohen affirmed that the SEC carefully choose who to go after. Their goal was to get some high-profile cases in order to get the word out. This way, more companies would understand the risks of illegal ICOs and would stop it without the SEC needing to go after every company out there.
Now, Robert A. Cohen has changed sides and will help Coinbase. He is, however, legally barred from speaking with any SEC official for around a year. There are regulations which prevent him from using too much of his influence now that he is out of the public service.