Gallagher Could Be Next SEC Chair Under Trump

Dan Gallagher, Robinhood's Chief Legal Officer, is a leading candidate for U.S. Securities and Exchange Commission chair if Donald Trump returns to office, according to Politico.

Gallagher expressed honor at being considered for the position, emphasizing his commitment to market access and financial innovation. He served as a Republican SEC commissioner from 2011 to 2015 and has recently criticized the SEC's approach to regulating digital assets.

Tensions persist between the SEC and the crypto industry over compliance and registration issues, with the SEC warning crypto firms of the need to register. Gallagher acknowledged Robinhood's ongoing discussions with the SEC regarding its crypto business and the confusion around regulatory frameworks.

Other contenders for the SEC chair position include Chris Giancarlo, Robert Stebbins, and Hester Peirce. Peirce plans to leave the agency after her term in 2025. The SEC declined to comment on these developments.

Update: Oct. 7, 2:20 p.m. UTC – SEC declined to comment on Gallagher's candidacy.