KEY POINTS
- Guillén, a partner at Baker & Hostetler, is reportedly being considered for the position
- She has said the crypto industry will finally 'thrive' under Donald Trump
- Other names being pushed for the role are John Deaton, Brian Brooks and Hester Peirce
With his cabinet gradually coming together, U.S. President-elect Donald Trump is now looking at nominating the next Securities and Exchange Commission (SEC) Chair, and a lawyer well-versed in blockchain technology is reportedly being considered for the role.
The SEC's leadership is of immense importance to the crypto space, considering how the agency under chief Gary Gensler has targeted the industry with Wells notices and lawsuits over the years.
Pro-Crypto Lawyer Joins Trump's SEC Chief List: Report
Teresa Goody Guillén, a partner at law firm Baker & Hostetler, is among the individuals Trump is considering to lead the SEC, CoinDesk reported Tuesday, citing people familiar with the matter.
The sources further revealed that the incoming president wants to nominate a SEC chair who is not only pro-crypto but also a non-bureaucrat to trigger a widespread revamp within the financial regulator.
It is unclear which other experts are on Trump's list, but one of the most prominent figures in the crypto industry that has popped up in discussions within the community is former Massachusetts senatorial candidate John Deaton, who is also a crypto lawyer.
Who is Guillén – Is She Good for Crypto?
Baker & Hostetler describes Guillén as an expert in "securities, litigation, investigations, corporate matters and digital assets broad securities." She is also a co-leader of the law firm's blockchain team.
Notably, Guillén is a veteran in "representing companies and individuals in U.S. SEC and other government investigations and enforcement actions."
Guillén is a member of The Digital Chamber, Token Alliance: Working Group Leadership, and before becoming a partner at BakerHostetler, she was an attorney for the SEC's Office of General Counsel.
Following Trump's presidential win, Guillén said she believes the crypto space "is going to thrive now," noting how the election has changed the environment for cryptocurrencies and litigators within the space.
"Allegations of fraud and enforcement by the government will likely be coming from other regulators rather than the SEC who do not have the requirement that the underlying asset be a security," she told Law.com.
Last week, she took to X to reaffirm her earlier statement, saying she believes "crypto and capital markets" in the United States will "thrive under President Trump."
U.S. #crypto and #capital markets will thrive under President Trump. The public has loudly and clearly spoken; current govt has a responsibility to serve the will of the people. “Government of the people, by the people, for the people.” -Abraham Lincoln
— Teresa Goody Guillén (@teresagoody) November 13, 2024
Other Names Possibly in the Running
As mentioned earlier, Deaton, a beloved figure in the crypto space for his pro bono work for holders of the XRP token when the SEC sued Ripple, is being pushed by the XRP army to hopefully be considered for the SEC leadership position.
Another name that has emerged in discussions for a Gensler replacement is Brian Brooks. He is a lawyer and technologist who rose to fame in the broader tech space after he explained blockchain technology to lawmakers during a 2021 Congress hearing.
Jesse Powell, the co-founder and chairman of crypto exchange Kraken, said the crypto community should push Brooks for the role since he "understands the SEC's mandate and limited scope."
The crypto industry's top pick for SEC chair should clearly be @BrianBrooksUS. Beyond crypto, BB understands the SEC's mandate and limited scope. The SEC has gone far off the rails and done tremendous harm to US companies and markets. Let's Make American Markets Marvelous Again. https://t.co/Ty6NuByaXB
— Jesse Powell (@jespow) November 19, 2024
Several key crypto leaders have also proposed SEC Commissioner Hester Peirce for the post, including Coinbase CEO Brian Armstrong and prominent crypto investor Ryan Sean Adams.
She would be the best choice. Smart, fair, professional. Can work with both sides. https://t.co/YSs7DpNOnP
— Brian Armstrong (@brian_armstrong) November 7, 2024
Trump has already announced his pick for Commerce Secretary in pro-Bitcoin Howard Lutnick but he has yet to select his nominees for SEC chief and Treasury Secretary.
