On November 21, Teresa Goody Guillén, an attorney and blockchain expert, used X to propose reforms for the Securities and Exchange Commission (SEC), amid speculation that she may be a candidate for SEC Chair under the incoming Trump administration.
“Make The SEC Great Again. Make Crypto Great Again,” Guillén wrote in a Nov. 21 social media post on X. “Under President Trump, transformative change starts on Day One. The SEC must restore trust, engage with industry, and end regulation by enforcement. It’s time to knock down needless obstacles, remove burdens, clarify crypto rules, and promote innovation. Protect investors and our place on the world financial stage. Bring crypto back to us."
Guillén's comments have garnered attention from the cryptocurrency sector, where she is seen as an advocate for blockchain innovation and regulatory transparency. With experience as an attorney in the SEC’s Office of the General Counsel and a background advising on compliance and enforcement cases, she is regarded as a potential candidate for SEC Chair.
Brendan Playford, co-founder of Masa, expressed support for her potential appointment, describing her as “the best candidate of all the people that are currently being opined on” and someone who could “dramatically transform the industry with someone that's very pro-crypto.”
Outgoing SEC Chair Gary Gensler is expected to step down in January 2025. His tenure has drawn criticism for a strong focus on enforcement in cryptocurrency oversight, which some argue has hindered innovation and created uncertainty.
Bitcoin's rise toward $100,000 in a post-election rally has contributed to optimism within the cryptocurrency community for a regulatory shift. According to the SEC's 2023-24 annual report, the agency achieved record enforcement income of $8.2 billion, with over $4.5 billion stemming from cryptocurrency-related cases.
In November, 18 Republican attorneys general filed a lawsuit against the SEC, alleging the agency overstepped its authority in its cryptocurrency enforcement efforts.
Guillén, a partner at BakerHostetler and co-leader of its blockchain practice, has extensive experience in securities law, including her tenure at the SEC's Office of the General Counsel from 2009 to 2011.
