Dan Gallagher and Hester Peirce are among the candidates being considered for the position of SEC chairman who is pro-crypto.
The appointment of a new head for the United States Securities and Exchange Commission (SEC) has been a focal point since Donald Trump’s recent electoral success. Eleanor Terrett, a journalist for Fox Business, has reported that the next SEC chief is likely to adopt a pro-crypto posture, according to sources close to Trump’s transition team.
Eleanor Terrett, a Fox Business correspondent, recently contacted a source associated with Trump’s team to find out the administration’s stance on the next SEC chair. Terrett inquired whether the new SEC leader would endorse policies that prioritize cryptocurrency.
The source verified that Trump’s team is in the process of selecting an individual who is in favor of digital assets, suggesting that there may be a departure from the current administration’s more stringent posture on crypto. “I assure you that it will be an individual who is pro-crypto.”
Trump’s team appears to be dedicated to identifying a candidate who fosters innovation and development within the digital asset sector, despite the fact that no definitive decision has been made.
In 2021, President Joe Biden appointed Gary Gensler to oversee cryptocurrency regulation. During his tenure, the SEC has initiated numerous enforcement actions against crypto companies. Despite the fact that Gensler’s term is ostensibly set to expire in 2026, he may be compelled to resign in light of Trump’s re-election.
The replacement of Gensler is reportedly being considered by a number of competent candidates. Coinpedia previously reported that Dan Gallagher, Robinhood’s Chief Legal Officer and a former SEC commissioner, is a top choice for the position due to his pro-crypto posture and criticisms of current SEC regulations.
Other potential candidates include Richard Farley, a partner at Kramer Levin Naftalis & Frankel, and SEC Commissioner Hester Peirce, who is recognized for her significant advocacy for the crypto industry.
The selection of a chief who is supportive of the development and innovation of digital assets is the primary objective as discussions persist.
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