SEC Shake-Up: Robinhood Legal Boss On Shortlist For Top Spot—Report
2024年11月9日 - 12:30PM
NEWSBTC
A major revamp is coming to the SEC. For many reasons, this year’s
US presidential elections have become the most consequential for
cryptocurrency. Crypto and blockchain technology has become an
election issue, with both the Republican and Democratic candidates
teasing the electorate with their plans on how to handle crypto.
Related Reading: Binance Coin Breaks $600! Is There More Upside
Ahead For BNB? Between the two, incoming President Donald Trump
offered a more friendly stance over crypto, promising to make the
US a “crypto capital” and suggesting a change in leadership at the
Securities and Exchange Commission (SEC). Now that Trump is the
next president, all eyes are on the SEC and the expected reshuffle.
And the latest political chatter suggests that the high-profile job
will probably go to Dan Gallagher, Robinhood’s Chief Legal Officer.
Many expect Trump to announce in January 2025 the next SEC chief,
as the clamor for the agency’s Gary Gensler’s exit intensifies.
Gensler In Hot Seat Before Elections Many expect Gensler to be one
of the high-profile exits once Trump takes office. Gensler has
waged legal fights against the crypto community for years,
including Binance and Ripple’s XRP. His aggressive policies against
crypto and its personalities have earned him plenty of detractors
and enemies. With Gensler’s increasing unpopularity, many have
demanded his resignation. Trump acknowledged the issue and promised
a revamp of the SEC once he wins. Even Ripple’s Brad Garlinghouse
has blamed Gensler for the Democrat’s loss this election. Now,
Reuters reports that Robinhood’s Dan Gallagher is considered the
top contender for Gensler’s post. Robinhood’s Dan Gallagher As Next
SEC Chair? Dan Gallagher currently serves as Robinhood’s Chief
Legal Officer. Gallagher was a SEC commissioner from 2011 to 2015
before joining the company. Also, Gallagher enjoys wide popularity
among cryptocurrency bigwigs, especially among Trump donors. At
least two sources have confirmed that the former SEC commissioner
is in the running to become the next chair of the agency. Although
the selection process is still open, Gallagher’s pro-innovation
policies give him an advantage over other hopefuls. He advocates
for tighter regulation of cryptocurrencies and supports market
liberalization. Previously, Gallagher campaigned to treat digital
assets like Bitcoin as a distinct asset class, not as securities.
In short, the SEC can see a more crypto-friendly policy once
Gallagher takes oath. Related Reading: Solana Rockets Past BNB To
Claim Coveted 4th Spot In Crypto Ranks Other Candidates In
Consideration Aside from Gallagher, a few other names are floated
as Gensler’s replacement. For example, some in the crypto industry
are looking at Hester Pierce, who is a SEC Commissioner, to become
the next SEC chair. However, some insiders have shared that Pierce
isn’t keen on taking the job. Another candidate in the running is
Mark Uyeda, who was appointed as SEC commissioner on June 30, 2022.
Multiple reports also mentioned Paul Atkins, former Republican SEC
Commissioner, and Robert Stebbins – who was named SEC General
Counsel in May 2017 — as possible Gensler replacement. Featured
image from CNBC, chart from TradingView
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