Foreign media: If Trump wins, Robinhood's Chief Legal Officer will be a major competitor for the chairman of the US SEC.

BlockBeats news, on October 7th, according to Politico, a dozen former senior regulators, lobbyists, and securities lawyers said that if Donald Trump wins the presidency again, Robinhood's Chief Legal Officer Dan Gallagher will be the leading candidate to be the chairman of the United States Securities and Exchange Commission (SEC). It is not clear whether Gallagher wants to leave Robinhood. Gallagher said that he loves his job and is honored to be mentioned 'in discussions about who will be the next SEC chairman.' But undoubtedly, Gallagher has clear objections to the direction of the SEC. He said that if he had been chairman in the past few years, there would have been tailored rules, as the industry has long sought, to provide 'at least a basic registration path' for cryptocurrency exchanges and brokers. Nevertheless, Gallagher believes that legislation is still needed. Gallagher has served as a commissioner of the U.S. Securities and Exchange Commission and is known for his friendly and political acumen. Under the leadership of the Trump administration, other possible candidates to be chairman of the SEC circulating on Wall Street include former Commodity Futures Trading Commission chairman Chris Giancarlo, former SEC general counsel Robert Stebbins, current Willkie Farr & Gallagher partner and current SEC commissioner Hester Peirce. However, the report said that for some Republicans, whether Gallagher can serve as chairman has always been a matter of time rather than if it will happen.