Republican

Donald Trump

Several former United States regulators and securities lawyers reportedly said Robinhood chief legal officer Dan Gallagher could be a contender for Republican presidential hopeful Donald Trump’s pick to lead the Securities and Exchange Commission (SEC) if he is victorious in November.&nbsp;
According to an Oct. 7 Politico report, one former SEC official <a data-ct-non-breakable="null" href="https://www.politico.com/newsletters/morning-money" rel="noopener noreferrer nofollow" target="null" text="null" title="null">said</a> Gallagher would be a “natural choice” to chair the securities regulator under Trump. Gallagher served as an SEC commissioner from 2011 to 2015 and became the CLO at Robinhood in 2020.
In July, Trump claimed that if he were to defeat US Vice President Kamala Harris in November’s presidential election, he would <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/donald-trump-pledges-fire-sec-chair-gary-gensler" rel="noopener noreferrer nofollow" target="null" text="null" title="null">fire SEC Chair Gary Gensler</a> “on day one.” As of October, many polls showed the Republican candidate neck and neck with Harris nationwide and in crucial battleground states.<iframe width="100%" height="315" src="https://www.youtube.com/embed/qihdsUa_zdY" frameborder="0" allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen></iframe>
According to Politico, the former regulators suggested that Trump could consider other former officials, including Chris Giancarlo, a commissioner and chair of the Commodity Futures Trading Commission, and former SEC General Counsel Robert Stebbins. The former officials also floated Hester Peirce, one of five SEC commissioners who has expressed pro-crypto views in her position.
<h3 id="pro-crypto-administration">Pro-crypto administration?</h3>
The Trump campaign has made few official announcements regarding picks for a potential 2025 cabinet. The Republican <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/donald-trump-jamie-dimon-treasury-secretary" rel="noopener noreferrer nofollow" target="null" text="null" title="null">denied reports he would consider</a> JPMorgan CEO Jamie Dimon or BlackRock CEO Larry Fink as Treasury Secretary and suggested that Elon Musk could fill some role in his cabinet if reelected. The Tesla CEO has stepped up his public support of Trump in recent months, even appearing on stage at an Oct. 5 rally.
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-enforcement-chief-gurbir-grewal-step-down" rel="noopener noreferrer nofollow" target="null" text="null" title="null">SEC enforcement chief Grewal to step down</a>
It’s unclear whether Harris would retain Gensler as SEC Chair if she wins in November. In September, for the first time in her campaign, the Democratic candidate publicly said she <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/kamala-harris-finally-breaks-silence-crypto-during-fundraiser" rel="noopener noreferrer nofollow" target="null" text="null" title="null">intended to support</a> the digital asset industry in 2025.&nbsp;
Given that many crypto proponents are criticizing the SEC’s approach to crypto under Gensler, Vice President Harris could consider asking for his resignation. Otherwise, the SEC chair’s term officially ends in June 2026. In a September interview, Mark Cuban said he would be willing to <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/mark-cuban-wants-gary-gensler-job-head-sec" rel="noopener noreferrer nofollow" target="null" text="null" title="null">lead the regulatory body</a> under a Harris administration.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/godzilla-vs-kong-can-sec-prevail-against-crypto-legal-firepower/" rel="noopener noreferrer nofollow" target="null" text="null" title="null">Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower</a>

Experts hint Donald Trump consider Robinhood exec to lead SEC: Report

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Cointelegraph

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