PANews reported on November 8, according to Reuters, that former U.S. President Trump's transition team is considering nominating Dan Gallagher, Chief Legal Officer of Robinhood, for the position of Chairman of the U.S. Securities and Exchange Commission (SEC). Gallagher is a former Republican SEC Commissioner and is currently viewed as a leading candidate for the position. Additionally, former SEC Commissioner and CEO of Patomak Global Partners Paul Atkins, as well as Robert Stebbins, the former SEC General Counsel under the Trump administration, are also on the shortlist of candidates.
Current SEC Commissioner Hester Peirce, who is widely popular in the cryptocurrency industry, has made it clear that she has no intention of running for the position despite industry support. Current SEC Chairman Gary Gensler has stated that he will resign early if a new Republican government takes office.