The much-anticipated moment is here! President-elect Donald Trump has proposed to elect crypto advocate Teresa Goody Guillén as the next chairperson for the U.S. Securities and Exchange Commission (SEC). She is expected to join the Trump team before Thanksgiving Day.
Guillen is no stranger to the SEC. After graduating from Georgetown University, Guillen worked at the Office of the General Counsel at the SEC from 2009-2011. She was under the supervision of Mary Shapiro, the 29th SEC Chair. Further, she handled several enforcement cases under Harvey Pitt, an American lawyer and an ex-SEC Chair.
Following up on her potential position, Guillén stated in her X handle that the U.S. crypto and capital markets will see better days under Trump. Further, she focused on a quote from Abraham Lincoln, the 16th U.S. President, reinforcing the fact that the government is responsible for fulfilling the will of the public.
Several market analysts stated that Guillen’s entry would open a new chapter for cooperation between the SEC and the digital asset industry. This would enhance innovation and development in the market. However, speculations are rife that Guillen’s close ties with eminent crypto personalities would bring in partiality issues. If elected, Guillén would be replacing Gary Gensler, whose activities have been criticized heavily by the crypto community.
Trump Media Moves Into Crypto With Potential Bakkt PurchaseEarlier this month, about 18 Attorney Generals (AGs) filed a lawsuit against the SEC and Gensler for regulatory overreach on digital assets and crypto markets. The AGs claimed that the market was facing an “unlawful and unconstitutional” crackdown. Following the case, Gensler released a document citing that he was glad to be a part of the SEC. This arose speculations that Gensler was heading towards an early retirement.
Notably, Trump, who has been supporting the crypto industry, criticized Gensler for his iron fist approach to the digital assets market. Further, during the election, he openly proclaimed in campaigns that he would fire Gensler after being elected as president.
