Who is Dan Gallagher, whom Donald Trump will allegedly appoint as the new SEC Chairman? What are Cryptocurrency Opinions?

Following Donald Trump’s recent victory over Kamala Harris, speculation is mounting about who could replace SEC Chairman Gary Gensler, who has faced widespread criticism for his regulatory approach to crypto.

Former SEC member and Robinhood’s current legal chief Dan Gallagher is emerging as a preferred candidate to lead the organization in a more crypto-friendly direction.

Crypto even Gensler, who has been vocal about imposing strict regulations on the industry, has hinted that he will resign with the incoming Republican administration, although his term officially ends in 2026. Trump had previously vowed to fire Gensler on “day one” of his presidency if elected, appealing to many pro-crypto views critical of Gensler’s “regulation through sanctions” strategy.

Gallagher has long been critical of this approach, stating at a hearing in September that federal “regulatory uncertainty” is stifling crypto innovation in the US. He advocated for a special regulation for digital assets, a vision he shared on the Bloomberg Intelligence podcast in July, saying, “I could do this working on a weekend.”

As chairman of the SEC, Gallagher will aim to reduce ongoing lawsuits against crypto firms and said he would “go with a pretty long list of things that need to be rolled back.” The SEC has filed nearly 100 lawsuits against various crypto companies since 2021, including a potential lawsuit against Gallagher’s own employer, Robinhood, over its crypto trading operations. Such a move to the SEC chairmanship could raise questions about conflicts of interest given his position at Robinhood, but there has been no official comment on it.

Gallagher, who began his career as an SEC summer intern, later rose to the position of commissioner in 2011 before moving to the private sector and joining Robinhood in 2020. Since then, he has appeared at high-profile industry events, sharing his views alongside the likes of Bain Capital Crypto’s Tuongvy Le and Coinbase’s Chief Legal Officer Paul Grewal.

While Gallagher is the current favorite for the role, he’s not the only contender. Current SEC member Mark Uyeda, who has voiced criticism of Gensler’s policies, is also seen as another possibility, with crypto lawyer Jake Chervinsky suggesting Uyeda has a “good shot” at landing the job.

*This is not investment advice.