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Robinhood Chief Legal Officer Dan Gallagher is seen as a leading candidate for the role of SEC Chair if 
Donald Trump is re-elected, Politico reports.
What's the Scoop?
- SEC Investigation: The SEC is investigating Robinhood's crypto operations, looking into whether the platform operates as an unregistered broker-dealer and clearing agency in crypto markets.
- Gallagher’s Position: Gallagher criticized the SEC's approach, arguing that Robinhood's limited crypto offerings put them in a strong compliance position compared to other platforms.
Bankless Take:
Gallagher’s possible ascension to SEC Chair would place him in a unique spot — transitioning from defending Robinhood to leading the agency that has targeted it. While his placement is predicated on many “ifs,” if he is confirmed, this would likely mark a new chapter in the SEC’s handling of crypto regulation, moving toward more transparent, industry-friendly policies that Gallagher has publicly advocated for.
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