Crypto

Dan Gallagher Considered for Next SEC Chair if Trump Wins

Dan Gallagher, the Chief Authorized Officer at Robinhood, is gaining consideration as the subsequent potential candidate to move the Securities and Trade Fee (SEC) if Donald Trump wins the presidency once more.

That is fairly attainable contemplating Gallagher’s expertise as a former SEC commissioner along with his strong background in finance and legislation.

Nevertheless, Gallagher may quickly discover himself in a authorized dispute with the SEC. In accordance with a report from Politico, the company is presently trying into whether or not Robinhood is performing as an unregistered broker-dealer within the crypto area.

Gallagher has publicly criticized this potential lawsuit, describing it as “a canine of a case.”  He argues that Robinhood presents buying and selling for under a small variety of crypto tokens in comparison with different platforms and that it doesn’t present crypto lending or staking merchandise. 

Gallagher additional cleared that Robinhood has deliberately averted partaking in areas of the crypto market which can be very dangerous, stating that “taking pictures on the good guys is a very unhealthy coverage.”

His prior tenure at SEC included scrutiny of the regulatory panorama, notably relating to guidelines enacted after the 2008 monetary disaster. 

He additionally known as for a evaluation of buying and selling practices within the U.S. inventory market and raised considerations about SEC’s inside courts, which have been declared unconstitutional in some cases by the Supreme Court docket.

The connection between Gallagher and the SEC may change into extra advanced if he’s nominated for the chair whereas coping with the lawsuit. Nevertheless, some lawmakers in Washington have proven their assist. 

For instance, Consultant Invoice Huizenga (R-Mich.) just lately praised Gallagher’s {qualifications} after he testified at a Home Monetary Companies Listening to.

Different names which can be thought of for the position embrace Chris Giancarlo, generally known as “CryptoDad,” and Hester Peirce, and Hester Peirce, a present SEC commissioner.

Additionally Learn: Musk Joins Trump for America’s Greatest Elections: Possible Impact?



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