Donald Trump's transition team is considering several candidates for key financial agency roles, including the Securities and Exchange Commission (SEC).
Candidates for SEC Chairman
Among the top contenders for the SEC chairman position is Dan Gallagher, a former Republican SEC commissioner. Gallagher has received strong backing from cryptocurrency executives who hope for a change from current Chairman Gary Gensler's strict regulatory posture.
Crypto Industry Support
The crypto industry supports Gallagher's candidacy, hoping for more favorable regulations. Industry leaders have financially backed Trump's campaign to push for a new SEC direction. Current SEC Commissioner Hester Peirce was also seen as a potential candidate, but her lack of interest surprised many.
SEC Leadership Changes
Tensions within the SEC arise from Gary Gensler's regulatory approach, seen as too harsh on digital currencies. Trump has vowed to reform policies, creating interest in appointing a new chairman capable of steering the agency in a different direction.
A decision on the new SEC chairman is expected soon, with the crypto industry keenly watching developments for more supportive growth conditions.
