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Source: Blockchain Knight
According to Reuters on November 7 (cited from sources),Trump’s transition team is considering taking some key figures in leadership positions, including corporate lawyers and Republican regulatorsand plans to submit a final shortlist soon.
Popular candidates for the chairman of the Securities and Exchange Commission (SEC) include Robinhood’s chief legal officer; former SEC commissioner Dan Gallagher; and Paul Atkins, a former SEC commissioner and currently leading consulting firm Patomak Global Partners.
Gallagher is a popular candidate among Crypto asset executives who has made a huge contribution to Trump’s campaign and is currently a popular candidate for the top position in the SEC.
Industry leaders expectGallagher’s appointment may change the agency’s position, get rid of the policies of current SEC chairman Gary Gensler, who takes a tough line on Crypto asset regulation.
Sources saidDiscussions are still underway and there are multiple options under review.
Another SEC leader being considered is Robert Stebbins, a partner at Willkie Farr & Gallagher, who served as SEC general counsel in the last Trump administration.
Gensler’s term will end in 2026.However, he has expressed his intention to step down after the new government comes to power.
Meanwhile, SEC Commissioner Hester Peirce reportedly has no interest in serving as SEC Chairman, despite the strong support for him within the Crypto asset industry.
Trump has expressed his intention to remove the “heavy burden” regulatory rules, and the reforms may focus on the recently drafted Basel Rules.The rule stipulates the increase in capital requirements for large banks, as well as other regulatory measures formulated by the Biden administration.
While Trump can replace Michael Hsu, the agent’s supervisor, on his first day in office, it may take longer to implement changes in the Federal Reserve regulator and the Federal Deposit Insurance Corporation (FDIC).
Fed director Michelle Bowman and Fed Insurance Vice Chairman Travis Hill are potential nominees for senior banking positions, advocates for relaxing banking regulations.
Jonathan Gould, former senior deputy director of the Office of the Comptroller of the Currency, was also reportedly considered.
Trump’s campaign has strong support from Crypto Asset Interests, they promise to promote BTC and overhaul the SEC’s regulatory approach.
According to reports, Trump’s national press secretary Karoline Leavitt said that the president-elect will announce the personnel appointment soon.
