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The Donald Trump transition crew is contemplating Dan Gallagher, Robinhood Markets’ chief authorized and compliance officer, as a possible successor to Securities and Alternate Fee (SEC) chair Gary Gensler.
Gallagher, a former Republican SEC commissioner beneath the Obama administration, is the main candidate on Trump’s shortlist, in response to a Nov.7 report by Reuters.
Trump Guarantees To Hearth Gary Gensler On “Day One” Of Presidency
Present SEC chair Gensler has led the regulator in a multi-year battle towards US firms working within the crypto trade, choosing a regulation-by-enforcement strategy. That’s made him extensively despised within the crypto trade.
To win over crypto voters main as much as the US election, Trump promised to fireplace Gensler on his first day in workplace, and to nominate a brand new SEC chair who “won’t block the longer term.”
BREAKING: Donald Trump to fireplace Gary Gensler and rent pro-Bitcoin administration. pic.twitter.com/KxUYoBM65s
— Jordan Harmon (@JordanHarmon) July 27, 2024
Though Gensler’s present time period extends via 2026, it’s ordinary observe for SEC chairs who had been appointed by a earlier a president to step down when a brand new administration takes energy. Gensler has additionally already signaled that he would resign if Trump was elected for a second time period.
One other Former SEC Commissioner On Trump Administration’s Checklist Of Candidates
Conversations are reportedly nonetheless ongoing inside the Trump transitionteam, with one other former SEC commissioner additionally on the Trump administration’s shortlist of candidates.
Paul Atkins, a former GOP SEC commissioner that was on Trump’s 2016 transition crew, in addition to Willkie Farr & Gallagher accomplice Robert Stebbins are being thought-about for the function of recent SEC chair as nicely, Reuters reported.
Different candidates embody Federal Reserve governor Michelle Bowman and Republican Chairman of the Federal Deposit Insurance coverage Company Board Jonathan Gould.
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