*

Former SEC commissioner Atkins, former SEC counsel

Stebbins are

contenders, sources say

*

Naming of Treasury secretary likely to precede decision on

SEC

*

Crypto industry seeks SEC policy overhaul, ending

Gensler's

crackdown

By Niket Nishant, Chris Prentice

Nov 22 (Reuters) -

Robinhood Markets' ( HOOD ) Chief Legal Officer Dan

Gallagher on Friday withdrew from consideration for chair of the

Securities and Exchange Commission in the Trump administration,

leaving other Republican former SEC officials among the top

candidates.

"I've made it clear to the relevant people that I'm not

interested in being considered for the role," he told CNBC.

Gallagher said in a statement he was committed to Robinhood

and the retail brokerage's customers.

Industry sources said restrictions on public officials'

investments were a potential deterrent for Gallagher, who served

as an SEC commissioner from 2011 to 2015.

Gallagher was the frontrunner for the job, Reuters and

other media outlets reported earlier this month, citing sources

familiar with the matter. His candidacy was supported by

cryptocurrency executives, an important source of campaign

finance for President-elect Donald Trump.

Trump spokesperson Karoline Leavitt did not comment

directly on Gallagher's announcement but said Trump was still

deciding who would serve in his administration.

Gallagher's decision to bow out opens the door for other

contenders.

Reuters and other media have reported former SEC

commissioner Paul Atkins, CEO of consultancy Patomak Global

Partners, and Willkie Farr & Gallagher law firm partner Robert

Stebbins, who served as SEC general counsel during Trump's first

administration, were also being considered for SEC chair.

A person with knowledge of the matter said on Thursday

evening that they were still contenders. Neither Atkins nor

Stebbins immediately returned a request for comment

Another potential candidate is Teresa Goody Guillén,

partner at law firm BakerHostetler and co-lead of its blockchain

team,

Coindesk reported

on Tuesday. She declined to comment when contacted by

Reuters on Wednesday and did not immediately respond to a

request for comment on Friday.

The cryptocurrency industry is seeking a complete overhaul

of SEC crypto policy, ending a crackdown by the SEC's current

chair,

Gary Gensler

, who leaves office in January before Trump's inauguration.

Atkins, who served on Trump's transition team in 2016 when

he was also a contender for SEC chair, is a crypto enthusiast,

while Stebbins has been criticized by some crypto executives for

his role in crypto enforcement actions during his time at the

agency.

Trump's transition team has spoken with as many as a dozen

potential candidates for the job, according to multiple sources

and media reports. A decision is likely to wait until a Treasury

secretary is announced.