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Sujit Kumar
Nov 8, 2024
by Sujit Kumar

Hester Peirce Unlikely to Succeed Gensler as SEC Chair

Gensler as SEC Chair

Table of contents

  1. Dan Gallagher Leads Race for SEC Chair
    1. Gensler’s Legacy and Expected Departure
In recent developments, SEC Commissioner Hester Peirce, known affectionately in the industry as "Crypto Mom" for her favorable stance on digital assets, has indicated she is not interested in taking over as SEC Chair. This news comes amid rumors of Gary Gensler’s imminent departure, creating a stir in the crypto and financial sectors.

Dan Gallagher Leads Race for SEC Chair

Currently, Dan Gallagher, the Chief Legal Officer at Robinhood, is the frontrunner to replace Gensler. Gallagher has substantial experience in the regulatory arena, having served as an SEC commissioner from 2011 to 2015. Following his tenure at the SEC, he joined Mylan as its chief legal officer before moving to Robinhood in 2020. His pro-crypto stance has made him a popular figure among cryptocurrency advocates who see his potential leadership as a step toward friendlier regulation.

Other names under consideration include former SEC Commissioner Paul Atkins, but Gallagher has reportedly garnered significant support due to his favorable view on digital assets, positioning him as a prime candidate in the eyes of crypto leaders.

Gensler’s Legacy and Expected Departure

Gensler, initially perceived as a crypto-friendly leader due to his blockchain course at MIT, has become a controversial figure. His tenure saw the SEC pursue legal action against multiple crypto firms, including Coinbase, leading some industry leaders to label him as an impediment to innovation. However, Gensler maintains that crypto companies must adhere to existing securities laws to protect consumers.

With Gensler expected to step down by January 20, the crypto community is closely watching the SEC for potential regulatory shifts under new leadership.

Disclaimer: The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
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Gensler as SEC Chair
Hester Peirce Unlikely to Succeed Gensler as SEC Chair
Sujit Kumar
Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.