Newly elected U.S. President Donald Trump is preparing to announce his candidates for the Securities and Exchange Commission (SEC) and the Treasury Department. Reports suggest that Trump is considering replacing current SEC Chairman Gary Gensler. The crypto sector is closely monitoring the potential impacts of Trump’s appointments on the industry.
Teresa Goody Guillen Emerges as Candidate for SEC Chair
Trump is evaluating pro-crypto attorney Teresa Goody Guillen for the SEC Chair position. Guillen, who has previously worked at the SEC, has strong connections on Wall Street and is known for her support of blockchain firms. These attributes make her an ideal candidate in the eyes of crypto companies.
The potential appointment of Guillen to the SEC chair could signify a significant shift in crypto regulation. There are expectations that clearer and more investor-friendly regulations may emerge under Guillen’s leadership. Appointing a pro-crypto leader is deemed crucial for the sector’s growth.
Two Strong Contenders for Treasury: Warsh and Rowan
Former Federal Reserve official Kevin Warsh and billionaire businessman Marc Rowan are prominent candidates for the Treasury Department. According to Gasparino, Trump is set to meet with candidates on Wednesday. Warsh is noted for his experience in financial markets and influence on economic policies, while Rowan is recognized for his successes in the business world and robust profile in the investment sector.
The crypto sector is expected to be directly influenced by these appointments. Notable figures like John Deaton have commented that “Warsh is in a leading position for the Treasury.” However, Deaton also indicated that names like Warsh and Bob Stebbins could pose a threat to the crypto space.
Potential Effects on the Cryptocurrency Sector
The candidates selected for the SEC and Treasury are anticipated to reduce uncertainty in the crypto markets. These developments could create a positive atmosphere for Bitcoin 
$93,588 and other altcoins. Bitcoin reaching $94,002 during the day highlights the market’s volatility.
Should Trump select crypto-friendly candidates, Bitcoin prices may reach new heights. Experts indicate that these appointments could bolster trust for both investors and companies. New leadership at the SEC and Treasury could represent a pivotal moment for the crypto sector.
