The possible election of Teresa Goody Guillén as chair of the Securities and Exchange Commission (SEC) in the Donald Trump administration has generated great interest within the cryptocurrency industry.
Teresa Goody Guillén, a prominent cryptocurrency lawyer and former U.S. Securities and Exchange Commission official, is emerging as a leading candidate to lead the regulatory agency in the incoming Trump administration.
His consideration for this position comes amid growing concerns hearsay the resignation of current SEC Chairman Gary Gensler, who could step down from his post after Thanksgiving, according to sources cited by Fox Business' Eleanor Terrett.
Is a legendary shift in cryptocurrency regulation coming?
Guillén is a partner at law firm Baker Hostetler and the leader of the firm's blockchain team. As such, the crypto community anticipates that she could be the regulator the industry needs to advance and expand.
Guillén’s experience also includes a significant period at the SEC, where she worked as an attorney in the Office of the General Counsel between 2009 and 2011. During her time at the federal agency, she gained a deep understanding of the agency’s internal operations and the laws governing financial markets. This experience, coupled with her current role related to blockchain and cryptocurrencies, could be crucial for favorable regulation towards cryptoassets.
According to sources, Guillén has become known as a cryptocurrency advocate and her stance on these innovations could align with Trump's promises to create a regulatory environment that promotes the development of digital assets.
Sources said she is one of the candidates being considered by Trump's team to take over as SEC chair following Gensler's departure.
Bloomberg ETF expert Eric Balchunas was one of those who reacted to rumors of Guillén's possible nomination to the presidency of the SEC, highlighting the importance that a cryptocurrency lawyer at the head of this agency could have in changing the current stance and implementing a more friendly approach towards cryptocurrencies in the country.
In contrast to Gensler, whose tenure has been characterized by strict regulation and aggressive actions toward the cryptocurrency sector, Guillén could represent a significant shift toward more balanced regulation that encourages innovation and growth in the digital asset sector.
Teresa Guillén receives support from the crypto industry
In addition to Balchunas, other experts have spoken out about her possible nomination as SEC chairman. Tim Urista, founder of the Trendvesting platform, said that Teresa Goody Guillén could “bring much-needed clarity and innovation to cryptocurrency regulations” in the United States.
Likewise, crypto enthusiast Chad Steingraber highlighted comments he made on the SEC lawsuit case against Ripple, in which he stressed that the company was setting a precedent to further expand its business model in the United States and change the landscape of SEC enforcement efforts.
However, despite the support he seems to be receiving from many cryptocurrency users and enthusiasts, there are others who remain cautious about his possible nomination, remembering how “pro-crypto” Gary Gensler used to seem before taking over as chairman of the SEC.
As reported by this outlet, Guillén is not the only candidate being considered to lead the SEC. Other notable names in the mix for the role include “Crypto Mom” Hester Peirce, current SEC commissioner, and Robert Stebbins, among others.
However, regardless of which of these names is nominated for the presidency of the federal agency, what the crypto community really hopes is that it establishes a new regulatory framework that protects investors but also favors the development of cryptocurrencies.
