Happycoin.club - Robinhood (NASDAQ:HOOD) CEO Dan Gallagher has emerged as a possible candidate to replace US Securities and Exchange Commission (SEC) Chairman Gary Gensler if Donald Trump is re-elected as president.
During his tenure, Gensler strengthened the regulatorâs anti-cryptocurrency stance. Under his leadership, the SEC has been firmly committed to regulation through enforcement.
Over the past couple of years, the SEC has attempted to bring lawsuits against a number of digital asset companies, most notably the long-running legal battle with Ripple Labs. And while the blockchain firm recently won another victory, the agency is appealing the judge's decision.
It's no surprise that Gallagher's candidacy has received praise from the crypto industry, especially since the top executive served as an SEC commissioner from 2011 to 2015.
If Trump's campaign promises to allow all US citizens to freely trade cryptocurrencies and make Bitcoin a reserve asset are to be believed, Gallagher's appointment should ensure the industry prospers.
In the meantime, Gensler and his potential successor could face off in court as the agency considers suing Robinhood for operating as an unregistered broker-dealer.
