• Trump Said to Consider Crypto Lawyer Teresa Goody Guillén to Lead SEC
• A former SEC attorney who now represents blockchain companies, Goody Guillén would be “an instant change maker,” said one token project founder
• Goody Guillén would be “an instant change maker,” said one token project founder
Donald Trump is reportedly considering appointing Teresa Goody Guillén, a cryptocurrency lawyer, to lead the Securities and Exchange Commission (SEC). Guillén previously worked as an SEC attorney and now represents blockchain companies. Her appointment would likely be welcomed by the crypto industry.
Guillén’s Background
Guillén worked for the SEC for over a decade, specializing in digital asset and blockchain law. She left the SEC in 2021 to join the law firm WilmerHale, where she advises cryptocurrency clients on regulatory issues.
Guillén has earned a reputation as an expert on cryptocurrency regulations. She is general counsel for the lobbying group Blockchain Association and regularly speaks at industry conferences.
According to her supporters, appointing Guillén would help advance crypto-friendly policies at the SEC. The SEC has taken an aggressive stance against the crypto industry under current Chairman Gary Gensler.
Potential Impact on Crypto Regulation
The cryptocurrency industry hopes Guillén could steer the SEC in a more innovation-friendly direction. In particular, she could revisit the SEC’s determination that cryptocurrencies like ether are securities.
Relaxing these regulations could allow cryptocurrency developers greater freedom to innovate without fear of running afoul of securities laws.
Guillén could also take a lighter approach to regulating crypto exchanges and decentralized finance (DeFi) platforms. The SEC has been ramping up enforcement actions against crypto companies for violating investor protection laws.
However, Guillén would likely continue the SEC’s crackdown on fraudulent crypto investment schemes. She recognizes legitimate uses of blockchain technology while working to root out “crypto grifts.”
Uncertain Path Forward
It’s unclear if Trump will ultimately select Guillén for the top SEC job. Presidents often trial balloon potential nominees to gauge public reaction. Trump could end up choosing someone else entirely.
It’s also uncertain if Guillén could accomplish her crypto priorities even if appointed. She would need support from the four other SEC commissioners, two of whom were picked by President Biden.
Conclusion
The potential nomination of Teresa Goody Guillén has generated excitement in the crypto industry. But industry leaders realize Guillén would face major hurdles to enacting crypto-friendly policies as SEC chair. For now, her nomination remains speculative. The coming months will determine whether Guillén or someone else ends up leading the SEC under the next administration.
