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Cryptocurrency News Articles

Teresa Goody Guillén Emerges as Top Contender for SEC Chair Role

Nov 21, 2024 at 01:47 am

The Trump transition team is evaluating potential candidates for the role of SEC chairman. Among the top contenders is Teresa Goody Guillén, a partner at BakerHostetler and co-leader of its blockchain practice.

Teresa Goody Guillén Emerges as Top Contender for SEC Chair Role

CoinChapter — Among the candidates being considered by the Trump transition team to replace Gary Gensler, who is expected to step down before Trump's inauguration on January 20, is Teresa Goody Guillén, a partner at BakerHostetler and co-leader of its blockchain practice.

A former SEC attorney who now represents blockchain companies in regulatory matters, Goody Guillén is said to have a balanced understanding of both securities laws and blockchain technology. She worked in the SEC’s Office of the General Counsel from 2009 to 2011, and later joined Kalorama Partners, where she worked alongside former SEC Chair Harvey Pitt to advise clients in regulatory challenges.

Industry professionals have expressed support for Goody Guillén's potential appointment.

“She has a clear understanding of the laws, has a clear understanding of the way the SEC works. We would just have an instant change maker,” said Brendan Playford, co-founder of Masa, in an interview with Axios.

Peers also highlighted her pragmatic approach to the role.

“I think she would govern based on substantive understanding of securities laws as they apply to the traditional markets, as well as to crypto,” said Charley Cooper, a senior advisor at R3, in the same Axios interview.

Several other candidates are also being considered for the role. They include:

Mark Uyeda, an SEC commissioner who was reappointed in January and has served in various roles within the agency, including advising former chairman Jay Clayton. Uyeda has been critical of the SEC's crypto policies, calling them a “disaster” and advocating for a top-down review of the SEC's regulatory framework.

Dan Gallagher, a former SEC commissioner and now Chief Legal Officer at Robinhood Markets, who has openly criticized Gensler's enforcement-focused approach. During a Congressional hearing in September, Gallagher argued that the SEC's strategies have created regulatory uncertainty, weakened the U.S.'s position in digital asset markets, and stifled innovation.

Paul Atkins, another former SEC commissioner who served on Trump's 2016 transition team and now leads Patomak Global Partners and co-chairs the Token Alliance, an organization advocating for digital asset adoption. Atkins has consistently opposed enforcement-driven strategies and promotes a more collaborative approach to crypto regulation.

Other potential candidates for SEC chair reportedly include Robert Stebbins, a partner at Willkie Farr & Gallagher LLP; Brad Bondi, a partner at Paul Hastings; and Brian Brooks, the former acting Comptroller of the Currency.

The Trump administration is reportedly seeking a leader who can unwind the expanded agency policies implemented under Gensler, with the goal of curbing “regulation by enforcement” and adopting a cautious approach toward applying crypto regulations until Congress passes clear legislation.

Trump Moves Quickly on Key Appointments for Second Term

Unlike Trump’s first administration, the selection process for key roles this term is moving swiftly and with greater organization, according to Washington insiders.

Trump has already named Howard Lutnick, CEO of Cantor Fitzgerald and co-chair of the transition team, as the next Commerce Secretary. Lutnick had previously expressed interest in becoming Treasury Secretary, but that role now appears likely to go to one of three top contenders: Scott Bessent, founder of Key Square Group; Mark Rowan, CEO of Apollo Global Management; or former Federal Reserve Governor Kevin Warsh.

In addition, the Trump administration has announced several notable appointments. It nominated Matt Gaetz, U.S. Representative from Florida, for Attorney General, though his selection may face resistance in Congress due to past allegations of misconduct. Former Fox News host Pete Hegseth will serve as Secretary of Defense, while former U.S. Representative Tulsi Gabbard has been tapped as Director of National Intelligence. Additionally, Robert F. Kennedy Jr. has been named Secretary of Health and Human Services.

Goody Guillén declined to comment on her potential appointment. But advocates say she is capable of leading the SEC during a critical regulatory period.

News source:coinchapter.com

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