The Trump administration is considering appointing Dan Gallagher, Robinhood’s chief legal officer and former SEC commissioner, as the chair of the Securities and Exchange Commission (SEC). Gallagher is viewed favorably by crypto executives who supported Trump’s campaign and is currently seen as the top contender for the position.
Industry leaders believe that Gallagher’s appointment could lead to a shift in the agency’s approach, moving away from the strict crypto regulations enforced by the current SEC Chair Gary Gensler. While discussions are ongoing and multiple options are being considered, Gallagher seems to be a frontrunner for the role.
Other potential candidates for the SEC chair position include Paul Atkins, an ex-SEC commissioner, and Robert Stebbins, a partner at Willkie Farr & Gallagher who previously served as SEC general counsel in Trump’s administration. Gensler’s term is set to end in 2026, but he has indicated his willingness to step down with the new administration.
In addition to the SEC leadership, Trump is also expected to make changes to banking regulations, aiming to reduce regulatory burdens on financial institutions. Potential nominees for key banking roles include Fed Governor Michelle Bowman, FDIC Board vice chairman Travis Hill, and former senior deputy comptroller Jonathan Gould.
Trump’s campaign received significant support from the crypto community, with promises to support Bitcoin and reform the SEC’s regulatory approach. Karoline Leavitt, Trump’s national press secretary, mentioned that personnel announcements will be made soon regarding these key financial positions. Stay tuned for updates as the administration finalizes its decisions.
