Trump's team targets SEC chairman: Robinhood's legal officer becomes a popular candidate.

CN
4 hours ago

Trump's team plans to submit a finalized candidate list soon.

‍Source: cryptoslate

Translation: Blockchain Knight

According to a Reuters report on November 7 (citing sources), Trump's transition team is considering appointing several key figures to leadership positions, including corporate lawyers and Republican regulators, and plans to submit a finalized candidate list soon.

Hot candidates for the Securities and Exchange Commission (SEC) chair include the Chief Legal Officer of Robinhood; former SEC Commissioner Dan Gallagher; and former SEC Commissioner Paul Atkins, who currently leads the consulting firm Patomak Global Partners.

Gallagher is a popular choice among crypto asset executives, having made significant contributions to Trump's campaign, and is currently a leading candidate for the top SEC position.

Industry leaders expect that Gallagher's appointment could change the agency's stance, moving away from the policies of current SEC Chair Gary Gensler, who has taken a tough approach to crypto asset regulation.

Sources say discussions are ongoing, with multiple options under review.

Another potential SEC leader being considered is Robert Stebbins, a partner at Willkie Farr & Gallagher, who served as the SEC's General Counsel during Trump's previous administration.

Gensler's term will end in 2026, although he has indicated a desire to step down after the new administration takes office.

Meanwhile, it has been reported that SEC Commissioner Hester Peirce is not interested in becoming SEC Chair, despite significant support from the crypto asset industry.

Trump has expressed a desire to eliminate "burdensome" regulatory requirements, with a focus on recently drafted Basel rules. These rules stipulate increased capital requirements for large banks, as well as other regulatory measures established by the Biden administration.

While Trump could replace Acting Comptroller of the Currency Michael Hsu on his first day in office, implementing changes at the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) may take longer.

Federal Reserve Governor Michelle Bowman and FDIC Board Vice Chairman Travis Hill are potential nominees for high-level banking positions, with the former being an advocate for loosening bank regulations.

It has also been reported that former Deputy Comptroller of the Currency Jonathan Gould is under consideration.

Trump's campaign has received strong support from crypto asset interest groups, who have pledged to promote BTC and fundamentally reform the way the SEC regulates.

Reports indicate that Trump's National Press Secretary Karoline Leavitt stated that the elected president will soon announce personnel appointments.

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