According to industry sources cited by (CoinDesk), President-elect Donald Trump's transition team is considering naming Teresa Goody Guillén, a partner at law firm BakerHostetler and co-head of its blockchain team, as one of the candidates for the next chairman of the Securities and Exchange Commission (SEC). Goody Guillén is a seasoned securities lawyer who has served the SEC and has represented blockchain companies and traditional Wall Street firms against the agency.
According to three insiders, the Trump transition team is seeking a non-bureaucratic business supporter to thoroughly reform the SEC, scale back the agency that has expanded under current Chairman Gary Gensler, and end the practice of "regulating through enforcement actions."
Insiders say that the Trump team hopes to find a candidate who understands the cryptocurrency industry and to exercise restraint regarding the enforcement of securities laws on digital assets until Congress passes clear legislation.
Masa co-founder Brendan Playford stated that Goody Guillén is "the best candidate among all currently being evaluated," and she is capable of making immediate changes to the SEC.
"She has a clear understanding of the relevant laws and is very familiar with how the SEC operates," Playford said. "We will have a leader who is very supportive of cryptocurrency and will push for immediate change, which will greatly alter this industry."
Cryptocurrency industry figures have some influence in this personnel selection process for the Trump team, thanks to the over $130 million the industry invested in Trump and other Republican candidates before the U.S. elections. Reports indicate that Coinbase CEO Brian Armstrong met privately with Trump to discuss personnel appointments.
Other reported candidates for SEC chairman include Robert Stebbins, a partner at Willkie Farr & Gallagher LLP, Brad Bondi, a partner at Paul Hastings, former SEC Commissioner Paul Atkins, Robinhood's Chief Legal Officer Dan Gallagher, and former Acting Comptroller of the Currency Brian Brooks.
Insiders in Washington say that unlike the first term of Trump’s administration, the selection process for the second term is swift and orderly, with the SEC chairman candidate expected to be confirmed before Thanksgiving.
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