A New Era for Crypto? Trump’s Transition Team Considers Robinhood Exec for SEC Chair

Trump transition team officials are considering retail brokerage Robinhood's top lawyer, as well as bank regulators and corporate attorneys, for a short list of key financial agency heads they expect to present to the president-elect soon, according to multiple people with knowledge of the matter.

Among those being considered for chair of the Securities and Exchange Commission is Dan Gallagher, a Republican SEC commissioner from 2011 to 2015 who is currently chief legal and compliance officer at Robinhood, the people said.

Gallagher, who is a popular pick among cryptocurren…  cy executives who donated millions of dollars to Donald Trump's Republican campaign, is the front-runner at this point, although the discussions are fluid, two of the people said.

Also in the mix for SEC chair is Paul Atkins, another former Republican SEC commissioner and CEO of consultancy Patomak Global Partners. Atkins served on Trump's transition team in 2016, when he was also a contender for the SEC chair role, Reuters reported at the time.

Robert Stebbins, a partner at law firm Willkie Farr & Gallagher who served as SEC general counsel during Trump's first administration, is also being discussed for the SEC short list.

Trump transition team officials are compiling a short list of a handful of individuals for each financial agency which they will present to Trump, said two of the people. The process could take a few weeks, and it was still too early to say who would ultimately win the top jobs, the people said.

Gallagher and Atkins did not respond to requests for comment on Thursday. Stebbins declined to comment.

In a statement, Karoline Leavitt, Trump's national press secretary, said: "President-Elect Trump will begin making decisions on who will serve in his second Administration soon. Those decisions will be announced when they are made."

Trump's campaign courted crypto industry cash with promises to promote bitcoin and overhaul the SEC, whose Democratic chair, Gary Gensler, has cracked down hard on the industry, saying it has flouted SEC rules. Crypto companies have been pushing for an SEC chair who will quickly end his crackdown and tear up other unfriendly policies,.