As a seasoned crypto investor with a keen eye for regulatory trends, I find the potential appointment of Dan Gallagher as SEC Chair under a Trump presidency highly intriguing. Given my personal experiences navigating the often-tumultuous waters of cryptocurrency regulation, I can’t help but feel a sense of cautious optimism.
If Donald Trump wins the presidency, it’s possible that Robinhood’s Chief Legal Officer, Dan Gallagher, could become a strong candidate for the position of Chairperson at the Securities and Exchange Commission (SEC).
According to Politico, who spoke with several high-ranking former SEC officials, lobbyists, and legal professionals in the securities field, it was suggested that he would be an ideal pick for the position.
Talkshow host Steven Steele commented that this would be huge for crypto.
If Trump wins, there could be an unprecedented move towards favorable cryptocurrency regulations unlike any other.
BREAKING NEWS: It’s being reported that, within the Trump administration, there is speculation that Daniel Gallagher, who serves as Chief Legal Officer at Robinhood, might take over the position of SEC Chair from Gary Gensler, should he step down under President Trump.
If Trump wins, it could lead to a significant change in regulations that would be extremely favorable towards cryptocurrencies, unlike any previous changes we’ve experienced.
— Steven Steele (@MrStevenSteele) October 7, 2024
Ending Gensler’s War on Crypto
If the Robinhood executive manages to secure the position, he might find himself in a conflict of interest situation, as the regulatory body is contemplating filing a lawsuit against Robinhood concerning its cryptocurrency operations.
Gallagher expressed disagreement with the SEC’s recent move targeting crypto businesses, which he sees as part of an ongoing battle against the industry. He pointed out that his platform holds only a small percentage of the tokens compared to other exchanges, and it does not provide services such as staking or lending for cryptocurrencies.
1) “By not excessively listing coins, we’ve chosen to prioritize something other than immediate revenue. This unique approach may have been unwise according to some, but I believe it positions us advantageously.
Additionally, he expresses his dissent towards the strict regulatory methods of SEC Chairman Gary Gensler regarding cryptocurrencies. Instead, he advocates for customized regulations and a registration process specifically designed for crypto trading platforms and brokerages.
If he had been in charge for the last few years, he would have already established the structure or system that the cryptocurrency sector has been eagerly waiting for.
If given another chance, I might handle things differently. I’ve had a long-standing relationship with Gary and hold him in high regard, but regarding this particular matter, I find myself at odds with his perspective.
In simpler terms, Republican Representative from Michigan, Bill Huizenga, backed the Robinhood executive by saying, “In essence, it’s best to have someone who is thoughtful, knowledgeable, and not overly influenced by political ideologies.” He pointed out that this has been an issue with Gary Gensler.
Among the potential contenders I’m keeping an eye on are Chris Giancarlo, who previously served as the Chairman of the Commodity Futures Trading Commission, Robert Stebbins, a former General Counsel at the Securities and Exchange Commission, and Hester Peirce, the current Commissioner at the SEC.
Trump Back Infront?
As reported by the blockchain-based betting platform Polymarket, Trump currently holds a substantial advantage with a 54% lead against his opponent, Kamala Harris, whose support stands at 45.4%.
Trump’s lead is up to 8.6% in the odds today.
He’s nearing his biggest lead since Kamala Harris entered the race.
— Polymarket (@Polymarket) October 7, 2024
However, the YouGov poll still has Harris in the lead with 50% to Trump’s 47%. Project Fivethirtyeight also has Harris marginally ahead in the polls.
Read More
- W PREDICTION. W cryptocurrency
- AEVO PREDICTION. AEVO cryptocurrency
- PENDLE PREDICTION. PENDLE cryptocurrency
- AAVE PREDICTION. AAVE cryptocurrency
- REF PREDICTION. REF cryptocurrency
- ORB PREDICTION. ORB cryptocurrency
- DESO PREDICTION. DESO cryptocurrency
- BORA PREDICTION. BORA cryptocurrency
- INR RUB PREDICTION
- SBR PREDICTION. SBR cryptocurrency
2024-10-08 13:17