The SEC is considering a lawsuit against Robinhood regarding its crypto operations, which could create tension between the regulator and the online brokerage, especially as Robinhood's Chief Legal Officer, Dan Gallagher, emerges as a top contender for SEC chairman should Trump win the presidency. Gallagher, a former SEC commissioner, argues that Robinhood’s limited crypto offerings set it apart from competitors and describes the potential lawsuit as misguided. He advocates for tailored regulations for the crypto industry and expresses disagreement with Gensler's approach. Despite his ambitions, Gallagher states he loves his current role and believes that experience in both government and industry is beneficial for effective regulation. Source: Politico