Trump rumored to consider appointing crypto lawyer Teresa Goody Guillén as SEC chair

According to a report by CoinDesk citing industry sources, the transition team of US President-elect Donald Trump is considering Teresa Goody Guillén, a partner at the law firm BakerHostetler and co-head of the Blockchain team, as a candidate for the next chair of the Securities and Exchange Commission (SEC). Goody Guillén is an experienced securities lawyer who has served at the SEC and has represented Blockchain companies and traditional Wall Street firms against the agency. According to three people familiar with the matter, the Trump transition team is seeking a pro-business, non-bureaucratic individual to overhaul the SEC, reduce the agency which has expanded under the current chair Gary Gensler, and end the practice of "regulation by enforcement." The sources said the Trump team wants to find someone with an understanding of the crypto industry and exercise restraint in applying securities laws to digital assets before clear legislation is passed by Congress. Masa co-founder Brendan Playford said Goody Guillén is "the best candidate among all those being considered" and can immediately enact changes at the SEC. "She has a clear understanding of the relevant laws and is very familiar with the SEC's operations. We will have a very crypto-friendly leader who will drive immediate change and transform the industry," Playford said. The crypto industry has had some influence in the personnel selection process for the Trump team, having contributed over $130 million to Trump and other Republican candidates before the US election. Reports indicate that Coinbase CEO Brian Armstrong has privately met with Trump to discuss appointments. Other reported SEC chair candidates include Willkie Farr & Gallagher LLP partner Robert Stebbins, Paul Hastings partner Brad Bondi, former SEC commissioner Paul Atkins, Robinhood's chief legal officer Dan Gallagher, and former acting Comptroller of the Currency Brian Brooks. Sources in Washington say the personnel selection process for Trump's second term is faster and more orderly than his first, with the SEC chair expected to be determined before Thanksgiving.