Trump Team Considers Robinhood Chief Legal Officer For SEC

Key Points:

• Hellcat Ransomware demands Monero after targeting Schneider Electric.
• Schneider Electric faces a third cyber attack from Hellcat Ransomware.

Trump’s transition team is considering Robinhood Chief Legal Officer Dan Gallagher for SEC chair, with Gallagher known for his crypto-friendly stance.

Robinhood Chief Legal Officer Dan Gallagher’s SEC Nomination

Dan Gallagher, who is the Chief Legal Officer at Robinhood, is also reported to be among the front-runners to be appointed as SEC chair by the administration of President-elect Trump. Gallagher is a former commissioner of the SEC and is notorious for loud support of financial innovation and deregulation. The crypto community loves him mostly because he supported cryptocurrencies as an asset class in their own right. If appointed as the next chair, he will most likely remake U.S. policy on crypto regulation friendlier toward the industry.

The former commissioner’s name appeared on top of the list of candidates for top agency jobs from the Trump transition team, due to his prior record on market liberalization. A nomination of Gallagher could mean major changes in regulatory policy to loosen constrictions on financial firms and foster innovation. One source close to the process said a final decision was still fluid, with another strong contender in Paul Atkins. Gallagher represents a broader GOP tendency to soothe the regulatory pressures on both the traditional and crypto markets, according to Reuters.

Read more: SEC Chair Calls Bitcoin “Ransomware” Despite Approving 11 ETFs