Trump’s SEC Chair Selection Process Narrows as Guillén Emerges as Frontrunner

TLDR

• Teresa Goody Guillén emerges as Trump’s leading candidate for SEC Chair
• Guillén is currently a partner at BakerHostetler co-heading their blockchain division
• Former SEC attorney (2009-2011) with experience in both traditional finance and crypto
• Trump plans to announce new SEC chair before Thanksgiving
• Kevin Warsh and Marc Rowan are leading candidates for Treasury Secretary position

Former President Donald Trump’s transition team has identified Teresa Goody Guillén as a leading candidate to head the Securities and Exchange Commission (SEC).

Guillén, currently a partner at BakerHostetler where she co-leads the firm’s blockchain division, brings a unique combination of traditional securities law experience and cryptocurrency expertise to the table.

Guillén’s background includes serving as general counsel in the SEC’s office from 2009 to 2011, where she worked alongside former SEC Chair Harvey Pitt on enforcement issues.

After her time at the SEC, she moved into private practice, where she has represented both traditional financial institutions and blockchain companies.

The potential appointment comes as Trump has promised to dismiss current SEC Chair Gary Gensler on his first day back in office.

Reports indicate that Gensler may choose to resign before Trump’s January 20 inauguration, marking the end of what many in the cryptocurrency industry have labeled as an aggressive enforcement era.

Other candidates under consideration for the SEC chair position include Robert Stebbins from Willkie Farr & Gallagher, Brad Bondi from Paul Hastings, former SEC commissioner Paul Atkins, and Brian Brooks, who previously served as Acting Controller of the Currency.

The Trump transition team is moving with unusual speed in their selection process, with sources indicating they plan to announce the new SEC chair before Thanksgiving.

This accelerated timeline suggests the incoming administration places high priority on reshaping financial regulations.

In parallel with the SEC chair selection, the Trump team is also evaluating candidates for Treasury Secretary. Current frontrunners include Kevin Warsh, a former Federal Reserve Governor, and Marc Rowan, CEO of Apollo Global Management. Trump is scheduled to interview both candidates on Wednesday.

Breaking: Trust me on this — Kevin Warsh is in the lead position for @USTreasury as i have been reporting that doesn’t mean it’s a done deal but that’s what my sources have been saying

— Charles Gasparino (@CGasparino) November 20, 2024

According to Polymarket data, Rowan currently leads with 53% odds on prediction markets for the Treasury position. The selection process has seen several shifts, with Scott Bessent, founder of Key Square Group, recently seeing his odds decline.

The cryptocurrency industry has shown particular interest in these appointments, as they could reshape the regulatory landscape. Brendan Playford, co-founder of decentralized data provider Masa, has described Guillén as “an instant change-maker” with potential to restructure the finance industry.

The Trump administration has expressed its intention to move away from what it terms “regulation by enforcement” in the cryptocurrency space. This stance marks a potential shift from the current regulatory approach that has led to several high-profile enforcement actions against crypto companies.

Howard Lutnick, a DOGE founding member, has already been named Commerce Secretary, adding another figure with cryptocurrency experience to the potential administration lineup.

Some industry observers, including pro-XRP lawyer John Deaton and Ripple CEO Brad Garlinghouse, have expressed concerns about certain candidates, particularly Robert Stebbins, while showing support for others who might bring what they see as needed regulatory clarity to the cryptocurrency sector.

The timing of these appointments coincides with notable market movements, as Bitcoin recently reached a new all-time high of $94,002. Market analysts are watching closely to see how these potential appointments might affect cryptocurrency valuations and regulations.

The combination of appointments to head these key financial regulatory agencies could have broad implications for both traditional finance and the cryptocurrency industry. The selected individuals will oversee policies affecting everything from securities regulations to monetary policy.

The transition team’s focus on candidates with both traditional finance experience and cryptocurrency knowledge suggests an attempt to bridge the gap between these sectors. Guillén’s potential appointment, in particular, represents this dual approach.

Trump’s team appears to be prioritizing candidates who understand both the traditional financial system and newer technologies like blockchain, indicating a possible shift in regulatory approach for the coming years.