Trump is reportedly considering a pro-Crypto attorney to replace Gensler as SEC chairman

Trump’s transition team is reportedly considering pro-crypto attorney Teresa Goody Guillén as a potential candidate to chair the SEC. Guillén is currently a partner at BakerHostetler and co-leader of its blockchain team.

Last week, Gary Gensler released a statement suggesting he was leaving the agency, and the debate over his replacement has heated up.

“As Trump searches for a pro-crypto SEC chair, crypto prices will likely continue to rise,” Kobeissi’s Letter predicted.

BREAKING: Donald Trump is considering replacing SEC Chairman Gary Gensler with pro-crypto attorney Teresa Goody Guillen.

Trump is supposedly looking for a replacement for the pro-crypto SEC chair.

Guillen is an SEC veteran known for being pro-crypto. pic.twitter.com/186muDSzQY

— Kobeissi Letter (@KobeissiLetter) November 19, 2024

All changes to the SEC

“She’s the best candidate of all the people that are currently being considered,” Brendan Playford, co-founder of Masa, told CoinDesk.

He added that he has a clear understanding of the laws and the way the SEC works. “We would just have an instant change maker that would dramatically transform the industry with someone very pro-crypto.”

She would “drastically reverse the administration’s pre-regulation default by applying and arbitrarily reading statutes written 90 years ago,” Charley Cooper, senior adviser at digital asset solutions provider R3 and former chief operating officer of the CFTC.

Last week, former SEC attorney Guillén said that U.S. capital and crypto markets will “thrive under President Trump,” before adding, “The public has spoken loud and clear; the current Govt. has a responsibility to serve the will of the people.”

Here’s who Trump is considering to replace Gensler https://t.co/jtbVMlV30J

— Will (@WClementeIII) November 19, 2024

1kx General Counsel Larry Florio said: “I have heard Teresa Goody Guillén’s name floated recently by some people for SEC Chair, and I have had the pleasure of working with her and her team”.

“It would be an amazing choice for the chair. Practical and hard-charging, it would be my top choice. Believe it or not, I don’t want a crypto free-for-all. What we need is rational, holistic regulation that promotes innovation at the same time that protects against fraud”.

Job specifications and candidates

Reported criteria for the SEC chairman position include a pro-crypto stance, a non-bureaucratic background, a willingness to implement light-touch regulations, and an interest in overhauling the agency.

Other potential candidates include Robinhood chief legal officer Dan Gallagher, former comptroller Brian Brooks, former SEC commissioner Paul Atkins and Willkie law partner Robert Stebbins.

Stebbins is the least popular choice among crypto industry executives. This week, Ripple CEO Brad Garlinghouse warned that electing Stebbins “would be akin to taking us back to the beginning of regulation for the app era.”

Featured image courtesy of Yahoo Finance

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