Trump Team Eyes SEC Chair: Robinhood's General Counsel Emerges as Top Contender
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Trump Team Eyes SEC Chair: Robinhood's General Counsel Emerges as Top Contender
The Trump team plans to submit a finalized list of candidates soon.
Navigating Web3 tides with focused insightsSource: cryptoslate
Translation: Blockchain Knight
According to Reuters on November 7, citing sources, Trump's transition team is considering several key figures for leadership roles, including corporate lawyers and Republican regulators, with plans to submit a finalized list of candidates soon.
Potential candidates for the chairmanship of the Securities and Exchange Commission (SEC) include Robinhood’s Chief Legal Officer; former SEC Commissioner Dan Gallagher; and Paul Atkins, another former SEC commissioner who now leads the advisory firm Patomak Global Partners.
Gallagher, a popular choice among crypto executives, made significant contributions to Trump’s campaign and is currently a leading contender for the SEC’s top position.
Industry leaders expect that appointing Gallagher could shift the agency’s stance, moving away from the policies of current SEC Chair Gary Gensler, who has taken a hardline approach toward crypto asset regulation.
Sources noted that discussions are ongoing, with multiple options still under review.
Another potential candidate being considered for the SEC leadership role is Robert Stebbins, a partner at Willkie Farr & Gallagher, who served as SEC General Counsel during Trump’s previous administration.
Gensler’s term ends in 2026, though he has indicated he intends to step down after the new administration takes office.
Meanwhile, it was reported that SEC Commissioner Hester Peirce has no interest in serving as SEC Chair, despite strong support from within the crypto industry.
Trump has expressed intentions to eliminate "burdensome" regulations, with reform efforts likely focusing on recently drafted Basel rules requiring higher capital requirements for large banks, along with other regulatory measures introduced under the Biden administration.
While Trump could replace acting Comptroller of the Currency Michael Hsu on his first day in office, implementing changes at the Federal Reserve’s supervisory division and the Federal Deposit Insurance Corporation (FDIC) may take longer.
Federal Reserve Governor Michelle Bowman and FDIC Board Vice Chairman Travis Hill are potential nominees for senior banking positions, with Bowman being an advocate for loosening bank regulations.
Jonathan Gould, former Senior Deputy Comptroller at the Office of the Comptroller of the Currency, is also reportedly under consideration.
Trump’s campaign received strong backing from crypto interest groups, which pledged to promote BTC and fundamentally reform the SEC’s regulatory approach.
Karoline Leavitt, Trump’s national press secretary, said the president-elect would soon announce personnel appointments, according to the report.
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