The Chairman of the Securities and Exchange Commission (SEC) is facing job insecurity, but the question remains: who will take his place? Join us as we delve into the speculation surrounding the potential successor to the SEC Chair and the implications this change may have on the cryptocurrency industry. Stay tuned for updates on this developing story.
As the inauguration of Donald Trump is scheduled for January 20, 2025, many in the crypto market are already wondering what will happen to SEC chairman Gary Gensler’s position. Trump previously promised to dismiss him due to his unreasonable actions against crypto companies, however, who will have to succeed him? As previously indicated, Robinhood CLO Dan Gallagher has been considered one of the main candidates.
With a background as a former SEC commissioner and a clear preference for financial innovation and deregulation, Gallagher has positioned himself as a supporter of the crypto industry. His approach is expected to make crypto regulation in the United States more favorable,
Gallagher’s name emerged on the list of potential candidates for key positions in the Trump transition team, mainly due to his previous work towards market liberalization. His potential appointment could lead to significant adjustments in regulatory policy aimed at easing burdens for financial companies and stimulating innovation. Although a final decision has not yet been made, with former commissioner Paul Atkins as another strong candidate, the choice of Gallagher reflects a broader Republican tendency to reduce regulatory burdens on financial and crypto markets, as reported by Reuters.
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