Trump Backs Crypto Lawyer Teresa Goody Guillén for SEC Chair

If appointed SEC chair, Teresa Goody Guillén could signal a shift from Gary Gensler’s “anti-crypto” regulatory stance. Trump aims to end “regulation by enforcement” and has vowed to replace Gensler, who is expected to resign before Jan. 20.

The agency’s regulatory posture could undergo a substantial transformation in comparison to the current “anti-crypto” approach under Gary Gensler if she is appointed.

The Trump administration has announced its intention to abandon its policy of “regulation by enforcement” in the cryptocurrency sector. During his campaign, Trump pledged to terminate Gensler on his first day in office. According to reports, Gensler is preparing to resign prior to Trump’s re-entry into office on January 20.

According to reports, Trump’s team is seeking an individual who is well-versed in digital assets and can mitigate the SEC’s stringent crypto regulations until Congress provides a more conclusive legislative framework. The blockchain and finance industry leaders regard Goody Guillén as an ideal candidate for this vision.

Her supporters emphasize her competent understanding of security law and her deliberate regulatory strategy. Guillén has garnered substantial support from both traditional finance executives and crypto leaders due to her advocacy for blockchain companies and her distinctive combination of experience with the SEC.

Goody Guillén is a partner at BakerHostetler, where she serves as the co-head of the firm’s blockchain division. She served as the general counsel of the SEC’s office from 2009 to 2011, as indicated by her LinkedIn profile. Subsequently, she worked with Harvey Pitt, the former Chair of the Securities and Exchange Commission, to offer guidance on enforcement matters.

This combination of advocacy against the SEC’s enforcement actions and intimate knowledge has rendered her an ideal candidate for the position, particularly in light of Trump’s team’s search for a pro-crypto regulator to reform the SEC.

Brendan Playford, co-founder of Masa, a decentralized data provider, described her as “an instant change-maker” who has the capacity to transform the finance sector.

Robert Stebbins from Willkie Farr & Gallagher, Brad Bondi from Paul Hastings, former SEC commissioner Paul Atkins, and Brain Brooks, who previously served as Acting Controller of the Currency, are among the numerous competitive groups of candidates for the SEC Chair position. Goody Guillén is one of these candidates.

CoinDesk has reported that the Trump transition team is proceeding at a rapid pace this time and intends to announce the new SEC chair before Thanksgiving. This urgency highlights the administration’s emphasis on the evolution of financial regulations at a rapid pace.

If Goody Guillén is appointed, her leadership could result in substantial changes to the SEC’s approach to crypto regulations. The Trump administration has already made some radical and controversial Cabinet selections, which has piqued the interest of many. This could potentially determine the fate of regulatory reforms in the next four years.