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As Donald Trump assumed the role of Republican presidential candidate, he expressed intentions to dismiss the SEC Chair, Gary Gensler. Trump has taken a stance against Gensler due to his negative approach towards cryptocurrencies, which grants him the authority to make such a change. Discussions are now underway regarding who Trump might appoint as Gensler’s replacement.
New SEC Chair Candidates
Should Trump win, Gensler, whose term ends in 2026, is likely to resign and assume another role within the government. However, if Trump prevails in the upcoming elections, Gensler could be ousted by November. POLITICO reported a significant claim regarding Trump’s potential plans for the SEC chairmanship, indicating that he is considering Robinhood’s Legal Director.
This platform, which provides exchange services for cryptocurrencies, could also alter its negative stance towards digital assets. Recent reports highlight that, according to a dozen former high-level regulators, lobbyists, and securities lawyers, Dan Gallagher, Robinhood’s Legal Director, is emerging as a leading candidate for the SEC chair should Trump reclaim the presidency.
