Speculation about the next chairman of the Securities and Exchange Commission continues to swirl as new US President Donald Trump remains silent on the issue.
Several names have been put forward, with XRP’s John Deaton and SEC’s Mark Uyeda being two recent media figures. However, taking current insider conversations into account, it appears Trump is in favor of that SEC attorney Teresa Goody Guillén replacing chairman Gary Gensler.
Sources say Trump wants to overhaul the agency and avoid Gensler’s “aggressive regulation” of cryptocurrencies. According to Trump’s transition team, Teresa Goody Guillén, a veteran securities lawyer, is leading the shortlist for the SEC chairmanship.
If selected, Guillén’s appointment could dramatically change the agency’s policies.
BREAKING: Donald Trump considers replacing SEC Chairman Gary Gensler with pro-crypto attorney Teresa Goody Guillen.
Trump is probably looking for a pro-crypto SEC chairman replacement.
Guillen is a veteran of the SEC and is known for being pro-crypto. pic.twitter.com/186muDSzQY
— The Kobeissi Letter (@KobeissiLetter) November 19, 2024
Trump’s transition team is 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, speculation is swirling about Gensler’s possible replacement.
Multiple sources reveal that the current administration is looking for a crypto expert, but could also soften the agency’s stance on crypto regulations. Many blockchain analysts see Guillén as a perfect candidate for the position due to 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 advocacy experience
Guillén brings a wealth of experience to the agency with her knowledge of blockchain practices and securities laws. Guillén is a partner at BakerHostetler and co-led the firm’s blockchain practice.
Masa’s Brendan Playford said Guillén is the best candidate among those proposed for the position. Playford stated that Guillén will implement the required changes at the agency.
Guillén talked about her experience at the SEC office LinkedIn profile. She served as general counsel of the SEC from 2009 to 2011 and has worked with former head Harvey Pitt to make recommendations on enforcement issues. Guillén’s crypto experience and advocacy make her a leading contender.
Trump team moves quickly to finalize choice
Guillén is one of several top quality names floated by experts and analysts in recent weeks. Shortlisted for the position are Brad Bondi of Paul Hastings, former SEC Commissioner Paul Atkins, John Deaton and Mark Uyeda.
According to multiple sources, Trump’s transition team wants to speed up the selection process. Reports indicate 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 regulatory policies.
Featured image of Borsa Gundem, chart from TradingView