Foreign media: If Trump wins, Robinhood's chief legal officer will be a major contender for the SEC chair

ChainCatcher news, according to POLITICO, a dozen former senior regulators, lobbyists, and securities lawyers have indicated that if Donald Trump regains the presidency, Robinhood's Chief Legal Officer Dan Gallagher would be a candidate for chairman of the U.S. Securities and Exchange Commission (SEC). It is currently unclear whether Gallagher wants to leave Robinhood. Gallagher has stated that he loves his job and that "I am honored to be mentioned in discussions about who will be the next SEC chairman." However, there is no doubt that Gallagher has significant disagreements with the direction of the SEC. He mentioned that if he had served as chairman over the past few years, there would have long been tailored rules, as the industry has long sought, providing "at least a basic registration system pathway" for cryptocurrency exchanges and brokers. Even so, Gallagher believes that legislation is still needed.

Gallagher previously served as a commissioner of the SEC, known for his affability and political skills. Other potential candidates for SEC chairman circulating on Wall Street under the Trump administration include former Commodity Futures Trading Commission chairman Chris Giancarlo, former SEC General Counsel Robert Stebbins, current partner at Willkie Farr & Gallagher law firm, and current SEC commissioner Hester Peirce. However, reports suggest that for some Republicans, whether Gallagher can become chairman has always been a matter of when, not if.