Trump Considers Pro-Crypto Officials To Head SEC

The U.S. president-elect, Donald Trump, is reportedly considering multiple pro-crypto officials to take the helm of U.S. financial regulatory institutions.

According to The Washington Post, Trump’s team is already vetting former and current Securities and Exchange Commission (SEC) officials with a crypto-friendly disposition to head the agency moving forward.

During his campaign, Trump pledged to fire Gary Gensler, the chair of the SEC, “on day one” of his second term in office. Gensler is despised within the crypto industry for overseeing a hostile campaign of regulation-by-enforcement since being appointed by President Biden in 2021.

Other key roles that will need to be filled include heading the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC). These agencies collectively shape the regulatory environment for financial markets, including crypto.

Dan Gallagher

Dan Gallagher, the current chief legal officer at Robinhood, is reportedly a front-runner to head the SEC, according to Reuters.

Gallagher was appointed as an SEC commissioner from 2011 to 2015 under the Obama administration. During his tenure, Gallagher established himself as a vocal advocate for lighter regulatory oversight.

Gallagher recently criticized the SEC’s enforcement-heavy strategy under Gensler, characterizing its policy as a “scorched-earth” approach.

“For too long, the U.S. digital asset markets and millions of Americans who wish to participate in them have had to contend with innovation-killing federal regulatory uncertainty,” Gallagher wrote in a testimony to Congress on Sept.18. “This uncertainty is particularly acute in the context of determining which digital assets the SEC deems to be investment contracts requiring SEC registration and how tokens and platforms can become registered with the Commission.”

On July 18, Gallagher said he would be honored to be considered for SEC chair in a potential Trump administration.

Paul Atkins

Paul Atkins, another SEC alumnus, is also being considered as a potential SEC chair, according to CNBC.

Atkins served as an SEC commissioner from 2002 to 2008, advocating for a conservative approach to regulation with the objective of "do[ing] no harm." He was also a part of Trump's 2016 transition team, advising on matters of financial regulation.

Atkins is now the CEO of Patomak Global Partners, a consultancy specializing in regulatory compliance and financial services. Since 2017, Atkins has also co-chaired the Token Alliance, a 400-member pro-crypto lobbying initiative created by the Chamber of Digital Commerce advocacy group.

In a 2022 interview with CoinDesk, Atkins was critical of SEC Chair Gary Gensler’s enforcement-focused regulatory approach. “The way the SEC is doing this, as regulation through enforcement… is a real problem,” Atkins said.

Mark Ueyda

Mark Uyeda could be another contender for SEC leadership under the Trump administration.

Uyeda has served as an SEC Commissioner since June 2022 and recently signaled his readiness to support Trump’s pro-crypto agenda.

“The Commission’s war on crypto must end, including crypto enforcement actions solely based on a failure to register with no allegation of fraud or harm,” he told Fox Business. “President Trump and the American electorate have sent a clear message. Starting in 2025, the SEC’s role is to carry out that mandate.”

Uyeda also served as counsel to the U.S. Senate Committee on Banking, Housing, and Urban Affairs. During this time, he advised on legislative initiatives affecting financial markets, including Dodd-Frank reforms and the JOBS Act — which aimed to spur small business growth and ease access to capital.

Hester Peirce

Washington Post reported that SEC Commissioner Peirce, a long-time ally to the crypto industry colloquially referred to as “crypto mom,” is under consideration as an interim SEC chair.

However, Pierce is set to retire after her current term concludes in June 2025, meaning there is little chance the commissioner will be heading up any regulatory agencies under Trump long-term.

“The only thing Commissioner Peirce has thought about doing after she leaves the Commission is becoming a beekeeper, and even there she’s having cold feet,” Peirce’s office told Unchained.