Non Cult Crypto News

Non Cult Crypto News

in

Robinhood legal boss is being considered for SEC chair shortlist: Report

Robinhood’s legal chief, Dan Gallagher, is reportedly one of the top picks to head the SEC under Trump, who promised to fire its current chair “on day one.”

COINTELEGRAPH IN YOUR SOCIAL FEED

Donald Trump’s transition team is reportedly considering adding Robinhood Markets’ legal boss to a shortlist of candidates to take charge of the Securities and Exchange Commission, which could see them present him as an option to the United States President-elect.

Dan Gallagher, Robinhood’s chief legal, compliance, and corporate affairs officer who was a Republican SEC commissioner from 2011 to 2015 under the Obama Administration, is currently the Trump team’s frontrunner to replace SEC Chair Gary Gensler, Reuters reported on Nov. 7, citing people with knowledge of the matter.

Conversations are still ongoing, and also on the list is Paul Atkins, another former GOP SEC commissioner who was on Trump’s 2016 transition team and a prospect for the role at the time, along with law firm Willkie Farr & Gallagher partner Robert Stebbins, who was the agency’s general counsel during Trump’s first run as president.

Trump promised to fire Gensler “on day one” of his presidency in his pitch to the crypto industry, with many blaming the SEC boss for a heavy crypto clampdown in the last few years. 

It’s typical for SEC chairs — who are appointed by the president — to step down after a new administration takes power. President Joe Biden appointed Gensler in 2021, and the SEC chair had earlier signaled he’d resign if Trump won, even though his term ends in 2026.

Gallagher, Atkins, Stebbins and Trump’s campaign did not immediately respond to requests for comment. 

The Robinhood legal boss has been mentioned as a potential pick to head the agency before, with Politico reporting last month that a former SEC official said Gallagher would be “a natural choice” by Trump.

Related: After US election wins, the crypto industry looks to the 2026 midterms

However, the process for who would be picked will reportedly take a few weeks, and one person told Reuters it was too early to say who would get the call.

Gallagher could be a popular choice for the crypto industry, which threw hundreds of millions of dollars into influencing the election.

In May, Robinhood said the SEC sent it a Wells notice — a warning the regulator is bringing an enforcement action — over its crypto business, a legal fight that Gallagher would lead.

Trump will be inaugurated as president on Monday, Jan. 20, 2025.

Magazine: Crypto regulation — Does SEC Chair Gary Gensler have the final say?

This article first appeared at Cointelegraph.com News

What do you think?

Written by Outside Source

Whale voters squash plan to rebrand DeFi protocol Sky back to Maker

Bitcoin shows no ‘overheated’ signals despite new highs, says analyst

Back to Top

Ad Blocker Detected!

We've detected an Ad Blocker on your system. Please consider disabling it for Non Cult Crypto News.

How to disable? Refresh

Log In

Or with username:

Forgot password?

Don't have an account? Register

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

To use social login you have to agree with the storage and handling of your data by this website.

Add to Collection

No Collections

Here you'll find all collections you've created before.