Speculations on the next chair of the Securities and Exchange Commission continue to swirl as incoming US President Donald Trump remains mum on the issue.
Several names have been floated, with XRP’s John Deaton and SEC’s Mark Uyeda being two recent figures in the media. However, if the current insider talks are to be considered, it seems that Trump favors SEC lawyer Teresa Goody Guillén to replace Chairman Gary Gensler.
Sources say Trump wants to overhaul the agency and avoid Gensler’s “aggressive regulation” on crypto. According to Trump’s transition team, Teresa Goody Guillén, an experienced securities lawyer, is leading the shortlist for the SEC chairmanship.
If selected, Guillén’s appointment can drastically change the agency’s policies.
BREAKING: Donald Trump is considering replacing SEC Chair Gary Gensler with pro-crypto lawyer Teresa Goody Guillen.
Trump is supposedly looking for a pro-crypto SEC Chair replacement.
Guillen is a veteran of the SEC known to be pro-crypto. pic.twitter.com/186muDSzQY
— The Kobeissi Letter (@KobeissiLetter) November 19, 2024
Trump’s Transition Team Looking For A Crypto Expert
Crypto and the blockchain have become an election issue this year, with President-elect Trump offering vocal support for the industry. In one of his campaign statements, Trump said he would remove Gensler from office if he won. With Trump winning the election, speculations are swirling on the possible Gensler replacement.
Multiple sources disclose that the current administration is looking for a crypto expert but can also soften the agency’s position on crypto regulations. Many blockchain analysts see Guillén as a perfect fit for the position because of her cryptocurrency and blockchain background and sensible approach to regulation.
As of today, the market cap of cryptocurrencies stood at $3.06 trillion. Chart: TradingView
Goody Guillén – Blockchain Experience With Advocacy
Guillén brings a wealth of experience to the agency with her exposure to blockchain practice and securities laws. Guillén is a partner at BakerHostetler and co-led the firm’s blockchain practice.
Brendan Playford of Masa said Guillén is the best candidate among those who are floated for the position. Playford stated that Guillén will implement the required changes to the agency.
Guillén indicated her experience working at the SEC office on her LinkedIn profile. She served as the SEC’s general counsel from 2009 to 2011 and has worked with former chief Harvey Pitt to provide recommendations on enforcement issues. Guillén’s crypto experience and advocacy make her a leading contender.
Trump Team Quickly Moving To Finalize The Pick
Guillén is among the many top-caliber names floated by experts and analysts in recent weeks. The shortlist for the position includes Brad Bondi of Paul Hastings, former SEC Commissioner Paul Atkins, John Deaton, and Mark Uyeda.
According to multiple sources, Trump’s transition team is looking to fast-track the selection process. Reports indicate that the team expects to formalize the pick before Thanksgiving.
The team’s urgency reflects Trump’s commitment to overhauling the cryptocurrency industry and the SEC’s regulations policies.
Featured image from Borsa Gundem, chart from TradingView
Source: https://bitcoinist.com/trump-favors-crypto-savvy-lawyer-to-replace-gensler/