As Donald Trump, the incoming US president, continues to remain silent on the matter.
Related Reading: Trump Enters The Crypto Arena With Bakkt Acquisition – Details
XRP’s John Deaton, and SEC Mark Uyeda are two names that have recently been mentioned 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 claim that Trump wants Gensler to be replaced and Trump’s agency restructured. “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 NEWS: Donald Trump considers replacing SEC chair Gary Gensler by pro-crypto attorney Teresa Goody Guillen.
Trump is said to be looking for a crypto-friendly SEC chair replacement.
Guillen has a long history with the SEC and is well-known for his cryptophilia. pic.twitter.com/186muDSzQY
— The Kobeissi Letter (@KobeissiLetter) November 19, 2024
Trump’s Transition Team Looking to Hire a Crypto Expert
Crypto and blockchain are a hot topic in this year’s election, as President-elect Trump shows vocal support for both industries. Trump stated in one of his statements that he would remove Gensler if he were to win the election. After Trump’s election victory, speculations about Gensler’s possible replacement are rife.
Multiple sources indicate that the current government is seeking a crypto-expert who can also help soften the agency’s stance on crypto regulation. Many blockchain analysts see Guillén as a perfect fit for the position because of her cryptocurrency and blockchain background and sensible approach to regulation.
Chart: TradingView As of today the market capitalization of cryptocurrencies was $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 worked as the SEC’s general attorney from 2009 to 2011, and she has provided recommendations to former chief Harvey Pitt regarding enforcement issues. Guillén’s crypto experience and advocacy make her a leading contender.
Related Reading: Crypto Milestones: Spot Bitcoin Exchange Traded Fund Options Receive CFTC Approval
Trump Team moves quickly to finalize the pick
Guillén is among the many top-caliber names floated by experts and analysts in recent weeks. Brad Bondi from Paul Hastings is on the shortlist, along with former SEC Commissioner Paul Atkins and John Deaton.
Trump’s team, according to several sources, is looking to speed up the selection process. The team is expected to make a formal selection before Thanksgiving, according to reports.
The team’s urgency is a reflection of Trump’s desire to revamp the cryptocurrency industry, and the SEC’s regulatory policies.
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