Key takeaways
- The US President-elect Donald Trump is reportedly considering Teresa Goody Guillen for the position of the SEC chair.
- The crypto community accepts Guillen as she’s pro-crypto and has SEC experience.
- The SEC’s current boss, Gary Gensler, hints at potential resignation soon.
The US President-elect Donald Trump is reportedly considering Teresa Goody Guillen for chairman of the Securities and Exchange Commission, SEC.
This move aligns with Trump’s promise to the crypto community to fire SEC chair Gary Gensler on his first in office. Moreover, the president-elect promised to establish a friendly crypto environment in the country.
Guillen, who is a professional securities lawyer, is notable for her pro-crypto stance. She is also a co-lead of the blockchain team of Baker & Hostetler, a prominent law firm.
Guillen served as an attorney for the SEC’s Office of the General Counsel between 2009 and 2011. Later, she worked at Kalorama Partners with ex-SEC chair Harvey Pitt. During the period, Guillen advised clients related to SEC enforcement cases.
Meanwhile, the selection process for a potential SEC Chair is getting more intense. Nevertheless, the crypto community remains enthusiastic that the next SEC boss will be pro-crypto.
The Trump transition team is not leaving any stone unturned as it conducts the selection processes for key positions in authority. The team had reassured the crypto industry, which donated immensely to Trump’s re-election, that the president-elect would fulfill his promises.
Also, the team noted that the appointment of a new SEC chair will be non-bureaucratic and favor the crypto industry till Congress passes clear regulatory guidelines into law.
The Crypto Industry Accepts Guillen
Through her work in co-leading Baker & Hostertler’s blockchain, Guillen has amassed significant support within the crypto industry and Wall Street. She represented and defended many clients against the SEC on some occasions.
Also, her experience at the SEC and legal representation of blockchain companies speaks in her favor.
Brendan Playford, the co-founder of Masa, a token-based DeFi data provider for AI companies, spoke favorably about Guillen. He marked her as the best candidate among others listed for the SEC chair.
Playford acknowledged that Guillen’s deep knowledge of the laws and experience at the SEC would be an advantage. The co-founder said she has the potential to transform the crypto industry positively and create instant change at the SEC based on her pro-crypto stance.
Other considered candidates on the list for the SEC chair position are former SEC commissioner Paul Atkins and Robinhood’s Chief Legal Officer (CLO) Dan Gallagher.
The list also includes Willkie Farr & Gallagher LLP partner Robert Stebbins, former acting Comptroller of the Currency Brian Brooks, and Paul Hastings partner Brad Bondi.
Meanwhile, Gary Gensler has hinted at his potential resignation as the SEC chair while speaking on Securities Regulation at PLI’s 56 Annual Institute last week.
Gensler stated: “It’s been a great honor to serve with them, doing the people’s work and ensuring that our capital markets remain the best in the world.”
The crypto community earnestly awaits the exit of Gensler, who, throughout his regime, cracked down on the industry with several lawsuits.
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Rida is a dedicated crypto journalist with a passion for the latest developments in the cryptocurrency world. With a keen eye for detail and a commitment to thorough research, she delivers timely and insightful news articles that keep her readers informed about the rapidly evolving digital economy.
View all articles by Rida Fatima
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