A potential clash between the Securities and Exchange Commission (SEC) and Robinhood Crypto is looming as the SEC prepares to scrutinize Robinhood’s cryptocurrency operations. Chief legal officer Dan Gallagher is emerging as a leading candidate to head the SEC if Donald Trump secures another term as president. This political landscape shift signals a potential return to government-industry collaboration, particularly if former President Trump takes office, potentially introducing positive regulatory changes for an industry currently plagued by controversies and lawsuits.
In addition to Gallagher, other potential candidates for the SEC chair role include former Commodity Futures Trading Commission chairman Chris Giancarlo and current SEC commissioner Hester Peirce. Gallagher’s vision for the SEC focuses on tailored cryptocurrency regulation, favoring a basic registration regime for crypto exchanges and brokers. Despite potential skepticism from Democrats due to Robinhood’s controversial history, Gallagher believes the company has improved its compliance and risk management protocols, aiming for clearer and more supportive regulations for the industry.
