- Dan Gallagher, Robinhood’s Chief Legal Officer, is a top contender for SEC chair in Trump’s upcoming administration.
- Gallagher’s stance on crypto regulation, favoring market liberalization, aligns with Trump’s pro-crypto campaign promises.
- Other candidates, including Paul Atkins and Robert Stebbins, are being reviewed as part of Trump’s shortlist for financial oversight roles.
The Trump transition team is reportedly eyeing Dan Gallagher, Robinhood’s Chief Legal Officer and former Republican SEC Commissioner, for a potential chair role at the U.S. Securities and Exchange Commission (SEC). Known for advocating financial innovation, Gallagher supports treating cryptocurrencies as a unique asset class separate from traditional securities. This approach appeals to the sector, which has long sought regulatory clarity amid escalating crackdowns.
Gallagher’s pro-innovation stance has garnered significant support from cryptocurrency executives, many of whom contributed millions to Trump’s campaign. This enthusiasm aligns with Trump’s public commitments to promote digital currencies, especially Bitcoin, and to ease the SEC’s regulatory pressures.
Other names under consideration for the role include Paul Atkins, another former SEC commissioner, and Robert Stebbins, former SEC general counsel during Trump’s previous term.
Crypto Policies on Horizon with Trump’s Potential SEC Overhaul
The Trump team is simultaneously assessing candidates for key financial oversight roles. Among those on the shortlist are Michelle Bowman, a Federal Reserve governor and advocate for easing bank regulations, and Travis Hill, vice chairman of the FDIC.
Trump’s administration aims to address what he calls “burdensome” regulations, potentially dismantling certain policies initiated by the Biden administration. These moves will likely benefit big banks by scaling back requirements for increased capital reserves and loosening restrictions on mergers and acquisitions.
In addition to easing regulations, Trump’s team is anticipated to replace Acting Comptroller of the Currency Michael Hsu immediately upon taking office. However, restructuring the Federal Reserve and the FDIC board may take several months. The implications of these changes could reshape regulatory landscapes, impacting both traditional banking and emerging financial technology.
Trump’s campaign backs a crypto-friendly regulatory approach, appealing to industry leaders who want changes at the SEC. SEC Chair Gary Gensler, a crypto critic, has pushed to classify many digital assets as securities.
The crypto community hopes a leadership shift under Gallagher or similar would end Gensler’s enforcement-driven agenda. Although Gensler’s term ends in 2026, he may step down if Trump takes office, potentially ushering in a new crypto-regulation era.
Related Reading | XRP Breaks Out: Golden Cross Signals Bullish Run
