As a seasoned crypto investor with over a decade of experience navigating the tumultuous seas of digital assets, I find myself closely monitoring developments at the U.S. Securities and Exchange Commission (SEC). The recent news about Dan Gallagher’s withdrawal from the SEC race has left me somewhat disappointed but not entirely surprised – after all, betting markets aren’t always right, and sometimes a horse that looks like a winner at the gate ends up in third place.
As reported by CNBC, Dan Gallagher, currently serving as Chief Legal Officer at Robinhood, will not be leading the United States Securities and Exchange Commission.
According to U.Today’s report, Gallagher was heavily favored by betting markets, with a 61% likelihood of being appointed as the next SEC head, based on bets placed on Kalshi. However, it appears that his chances for nomination have significantly decreased.
Presently, Paul Atkins, the CEO of Patomak Global Partners, is seen as the leading contender. It’s estimated that he has approximately a 60% likelihood of assuming the role of Securities and Exchange Commission (SEC) chairman, based on predictions made by Kalshi users.
On Thursday, it was disclosed by Fox Business reporter Charles Gasparino that Atkins is likely to take the front role in leading the agency, based on a confidential source who is well-versed in the situation.
In his recent remarks, former SEC official John Reed Stark expressed his belief that choosing Atkins would be an excellent decision. Stark anticipates that Atkins, a previous SEC commissioner, will approach crypto enforcement with prudence and careful consideration. He recalls Atkins’ preference for free markets and dislike of excessive regulation, which he believes could have a beneficial impact on the cryptocurrency sector.
The candidacy of Robert Stebbins, former General Counsel for the Securities and Exchange Commission (SEC), recently attracted a lot of criticism within the crypto industry, with Ripple CEO Brad Garlinghouse saying that such a choice would be “unconscionable.”
According to U.Today’s report, SEC Chairman Gary Gensler has formally announced his departure from the agency on January 20th.
It’s anticipated that Commissioner Jaime Lizárraga, who had cast dissenting votes on several Bitcoin ETF proposals, will resign from his position at the agency in January.
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2024-11-22 20:09