Donald Trump's transition team is evaluating candidates for the position of SEC chairman. Among the potential candidates is Dan Gallagher, the chief legal and compliance officer of Robinhood Markets.
Gallagher as the Leading Candidate
Dan Gallagher, a former Republican SEC commissioner during the Obama administration, is reportedly at the top of Trump's shortlist. Gallagher's prior significant roles in financial regulation position him as a leading contender.
Trump's Plans to Dismiss SEC Chairs
As part of the U.S. electoral race, Donald Trump promised to replace current SEC chair Gary Gensler on his first possible day of a second term. Gensler is notorious for his enforcement-focused approach to cryptocurrency regulation, which has sparked discontent within the industry.
Other Candidates for SEC Chair
Trump's team is also discussing other potential candidates for the position of SEC chair. These include Paul Atkins, a former SEC commissioner during Trump's 2016 transition, and Willkie Farr & Gallagher partner Robert Stebbins. Federal Reserve governor Michelle Bowman and FDIC board chairman Jonathan Gould are also being considered.
The potential replacement of SEC chair Gensler is being discussed to foster a more favorable approach towards cryptocurrency regulation, which could significantly impact the future development of the crypto industry in the U.S.
