List of candidates for the next SEC chairman, from the industry, SEC internal, and legal circles
Foreign media outlets highlight their own promising candidates for various reasons
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During his term, Chairman Gensler argued that "most cryptocurrencies except are securities," and continued to enforce regulations on numerous cryptocurrency companies in the US. Many US cryptocurrency companies cried out for "lack of regulatory clarity" due to Gensler's rigid and strict enforcement, with some even leaving the US market.
As such, the US cryptocurrency community is keenly interested in who will replace Gensler and "save" the cryptocurrency market.
Foreign media outlets are pouring out articles on potential candidates for the next SEC chairman based on information from their own sources.
BlockStreet has compiled and organized the information on the next SEC chairman candidates that have been reported by various foreign media.
# "The top candidate is from the current industry"
The top candidate being considered by the president-elect Trump to replace Gensler is Dan Gallagher, the Chief Legal Officer of Robinhood.
A former SEC commissioner who requested anonymity told Politico in an interview on the 7th that Gallagher, the Chief Legal Officer, will become the new SEC chairman in the Trump administration.
Gallagher served as an SEC commissioner from 2011 to 2015, and has been the Chief Legal Officer of the US stock and cryptocurrency trading platform Robinhood since 2020. The claim is that Gallagher will return to the SEC under the Trump administration.
The president-elect Trump has been pouring out promises to grow the cryptocurrency industry since the early days of his presidential campaign. As such, Gallagher, who has full experience in the current cryptocurrency industry, is a promising figure who can continue the "pro-cryptocurrency stance" that the Trump administration wants from the SEC.
Another figure mentioned as a potential replacement for Gensler is Brian Brooks, the former CEO of Binance US.
Brooks worked at the Office of the Comptroller of the Currency (OCC) during the first Trump administration, and pushed for the introduction of blockchain experiments in banks and related cryptocurrency regulations during his tenure.
Recently, he has expressed in an interview that if appointed as the next SEC chairman, he will develop the cryptocurrency industry and improve regulatory clarity based on his experience in the cryptocurrency industry.
# "Not from afar, but from nearby"
Several foreign media outlets, including the Washington Post, reported that the president-elect Trump will look for individuals within the SEC who have been supportive of cryptocurrencies. The names mentioned are Commissioners Hester Peirce and Mark Uyeda.
Commissioner Uyeda is a representative pro-cryptocurrency figure within the SEC.
In a recent interview with the cryptocurrency-specialized media Brave New Coin, Commissioner Uyeda said he will end the enforcement of regulations not based on clear regulations, and will help implement the promises of the president-elect Trump.
Based on Uyeda's interview, several foreign media outlets have even published graphics combining Uyeda's photo with the president-elect Trump, speculating that Uyeda is the next SEC chairman envisioned by Trump.
Commissioner Hester Peirce is the most cryptocurrency-friendly figure within the SEC, nicknamed the "Crypto Mom".
Peirce has criticized Gensler's actions through multiple media interviews, and has hinted that the SEC staff is currently divided.
Peirce has particularly argued for enforcement through clear regulations, not just establishing order through enforcement. Based on Peirce's actions and status, many media outlets have identified her as a promising candidate for the next SEC chairman. The Washington Post reported that "Peirce may also lead a federal task force (TF) on cryptocurrency policy."
# "The legal circle"
Other individuals mentioned as potential candidates for the next SEC chairman through foreign media are Gurbir Grewal and Dalia Blass.
Dalia Blass is an expert in legal issues related to cryptocurrencies, working at the law firm Sullivan & Cromwell which specializes in cryptocurrency-related lawsuits.
Kwon Seung-won, reporter ksw@blockstreet.co.kr
