It has been reported that the Donald Trump administration is considering dismissing Gary Gensler, chairman of the US Securities and Exchange Commission (SEC), and appointing Dan Gallagher instead. It is stated that this change may occur shortly after Trump returns to office in January 2025. The crypto community has long been demanding Gensler’s departure.
Dan Gallagher’s Possible Candidacy
Dan Gallagher currently serves as Robinhood’s Chief Legal Officer. Gallagher, a former SEC commissioner, held the position from 2011-2015. He is likely to take over as SEC chairman in the Trump administration, according to Reuters. Known as a strong advocate for the crypto industry, Gallagher also provided significant support to Trump’s political campaign this year and has become a popular candidate in crypto circles.
Another name supported by the crypto community was Hester Pierce, but according to sources, Pierce did not accept this position. In addition to Gallagher, Republican SEC Commissioner Mark Uyeda, Patomak Global Partners CEO Paul Atkins and Willkie Farr & Gallagher partner Robert Stebbins are also among the possible candidates.
Gallagher’s View of Regulations
Gallagher is a name that supports financial innovation and advocates market liberalization. Its stance towards treating cryptocurrencies as a separate class suggests it could offer a crypto-friendly regulatory approach. It is thought that such a management change, which will provide flexibility in the crypto markets, may create new opportunities for the industry.
Trump’s press secretary, Karoline Leavitt, announced that the president will soon begin making appointments for his second term. He stated that a public statement would be made once Trump’s elections are completed.
Gensler’s Resignation Possibility and Effects
Gary Gensler may remain SEC Chairman until 2026; However, it is rumored that he may resign by the end of the year. In such a case, SEC’s Ripple 
$0.550297 Important issues may come to the fore, such as his lawsuit with U.S.A. and the approval of a spot ETF for XRP. It is also eagerly awaited how this change will affect the crypto markets.
The new SEC chairman’s cryptocurrency policies may increase confidence in the market. Increasing investor participation and making the regulatory environment more predictable are among the expected results in this process.
If Gallagher is appointed, it is anticipated that a more innovative and flexible regulatory approach will be adopted in the sector. This may herald a change not only in crypto markets but also in financial regulations in general.
As a result, the change in the head of the SEC is seen as a critical turning point for the future of cryptocurrencies.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
