The crypto industry is buzzing with speculation as president-elect Donald Trump reportedly considers a game-changing pick for the next chair of the Securities and Exchange Commission (SEC). Sources close to the transition team have revealed that Teresa Goody Guillén, a partner at law firm BakerHostetler and co-lead of its blockchain practice, is among the top contenders for the influential regulatory role.
A New Era for Crypto Regulation?
Goody Guillén’s potential nomination has sparked excitement within the crypto community, as she is seen as a knowledgeable and pro-innovation figure who could usher in a new era of regulatory clarity and support for the industry. Her experience serving at the SEC and later representing blockchain companies has given her a unique perspective on the delicate balance between protecting investors and fostering the growth of transformative technologies.
“She is the best candidate of all the people that are currently being opined on,” said Brendan Playford, co-founder of decentralized data provider Masa. “She would dramatically transform the industry with someone that’s very pro-crypto.”
– Brendan Playford, Masa co-founder
Trump’s transition team is said to be seeking a pro-business, non-bureaucrat to lead the SEC who will roll back the expanded agency created under outgoing chair Gary Gensler and end the practice of “regulation by enforcement.” For the crypto industry, this means appointing someone who understands the technology and will exercise restraint in applying securities laws to digital assets until clear legislation is passed.
A Rapid and Decisive Transition
Unlike Trump’s first term, the current transition process is moving swiftly and decisively. Insiders expect an SEC chair to be named before Thanksgiving, with Goody Guillén emerging as a top contender thanks to her unique blend of regulatory experience, legal expertise, and understanding of the crypto landscape.
“Teresa is a true trailblazer in the crypto space, bringing the expertise and vision needed to lead the SEC and drive the growth of U.S. crypto and capital markets,” said Nicole Trudeau, general counsel for investment firm Wave Digital Assets. “She embodies everything President Trump envisioned for the sector.”
– Nicole Trudeau, Wave Digital Assets general counsel
The Road Ahead for Crypto
If appointed, Goody Guillén would face the daunting task of navigating a rapidly evolving industry and striking the right regulatory balance. Her supporters believe she has the knowledge, experience, and vision to create a framework that protects investors while allowing innovation to flourish.
As the Trump team finalizes its cabinet picks, the crypto world watches with bated breath. The choice of SEC chair could determine the trajectory of the industry for years to come, and many are hopeful that Goody Guillén’s potential appointment heralds a new era of regulatory clarity, support, and growth for the sector.
While challenges undoubtedly lie ahead, the prospect of a pro-crypto, innovation-friendly SEC under Goody Guillén’s leadership has the industry cautiously optimistic. As one insider put it, “She would govern based on substantive understanding of securities laws as they apply to traditional markets and crypto. She will dramatically roll back the prior administration’s default to regulating through enforcement.”
The coming weeks and months will be critical as the new administration takes shape and sets its regulatory agenda. For now, the crypto community remains hopeful that Goody Guillén’s potential appointment signals a brighter, more promising future for the industry.
