- November 8, 2024
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The post Robinhood CLO To Become SEC’s Next Chairperson Under Trump Leadership appeared first on Coinpedia Fintech News
With Donald Trump returning to the White House for a 2nd term, new changes may be on the horizon that could benefit the crypto industry. A major campaign promise from Trump was to replace Gary Gensler as the head of the U.S. (SEC) who has been strict on crypto regulations, with a more crypto-friendly leader. Sources aware of this matter suggest that Dan Gallagher, Robinhood’s current Chief Legal Officer and former SEC commissioner, is been considered for this role.
Why Dan Gallagher?
Dan Gallagher, who served as an SEC commissioner from 2011 to 2015, has a solid background in regulation and a pro-crypto stance, making him popular among crypto supporters. He has been openly critical of the SEC’s approach to regulating the crypto space, especially under Gensler’s leadership.
Additionally, he has raised issues with the SEC’s internal courts, some of which were later found unconstitutional by the Supreme Court.
Notably, he’s garnered strong support from crypto executives and lawmakers alike, with many seeing him as an ally who could shape policies more favorably toward innovation in digital finance.
Challenges Ahead for Gallagher
While Gallagher’s credentials make him a top contender, his position as Robinhood’s legal head brings unique challenges. The SEC is actively investigating Robinhood over allegations that it has operated as an unregistered broker-dealer, a case that could complicate Gallagher’s transition to SEC chair.
Despite this, Gallagher’s pro-crypto background and familiarity with the regulatory landscape give him a clear advantage.
Other Possible Contenders
If Gallagher declines or is not selected, other names being considered include former CFTC chair J. Christopher Giancarlo, also known as “CryptoDad.” Giancarlo is well-respected in the crypto space for his industry-friendly views.
Additionally, current Republican SEC Commissioner Hester Peirce, a known crypto advocate, was initially seen as a strong choice.
If Gallagher becomes the SEC Chair, his leadership could change the way crypto is regulated in the U.S., potentially leading to friendlier policies that allow the industry to grow.
