Michaela Alvez
Teresa Goody Guillén, the potential replacement to current U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler, responded on X to an official press release announcing the latter’s upcoming departure from the agency.
Guillén stated that the SEC must restore trust, engage with industry, and end regulation by enforcement. “Make The SEC Great Again. Make Crypto Great Again,” Guillén tweeted, echoing President-Elect Donald Trump’s popular slogan. She also emphasized the move to protect investors and the country’s place on the world financial stage.
In a speech by Trump during the Bitcoin Conference 2024, he vowed to remove Gensler from his position on “day one.”
According to the SEC press release, Gensler will step down from the agency effective 12:00 p.m. on January 20, 2025. He has been SEC chairperson since April 17, 2021, following the aftermath of the GameStop market events.
Gensler’s Term
During his address at the Practicing Law Institute’s 56th Annual Institute on Securities and Regulation, Gensler looked back on his two years as the head of the agency. He highlighted major achievements, including reforms to treasury markets, advancements in equity market rules, and strengthened corporate governance measures.
Gensler reiterated the agency’s stance that Bitcoin is not considered a security. However, he emphasized the need for proper registration and disclosure requirements for other cryptocurrencies that meet the criteria of securities under federal law.
Possible Benefits From a Guillén Term
The possible appointment of Teresa Goody Guillén as SEC Chair could mark a turning point for the cryptocurrency sector in the U.S. As a partner at BakerHostetler and co-leader of the firm’s blockchain practice, Guillén brings a unique blend of expertise, connecting the established financial world with the dynamic and evolving crypto industry.
Additionally, Guillén’s leadership could bring a more collaborative regulatory style surrounding cryptocurrency, resulting in more concrete rules for how digital assets are treated, helping crypto businesses navigate the legal industry and attracting greater institutional investment.
Read More
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- Names of Gensler’s Replacement Float as Crypto Industry Watches for New SEC Chair
- SEC’s $400M Crypto Enforcement Push Sparks Demand for Clear Guidelines
Michaela has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
