Leadership Changes at the SEC: New Opportunities for the Encryption Industry?

Recently, a message released on the official website of the SEC ( has attracted widespread attention in the cryptocurrency industry. The current SEC chairman Gary Gensler will resign early, a decision that is not only surprising but also brings new expectations for the crypto industry.

During Gensler's tenure, the SEC took strict regulatory measures against the encryption industry. In just three and a half years, the SEC conducted over 2,700 enforcement actions in the encryption field, collecting more than $21 billion in fines. This tough stance has sparked much controversy within the industry.

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As the 2024 US presidential election approaches, the cryptocurrency industry is looking towards candidates who may bring about policy changes. One notable figure is Teresa Goody Guillén, who is seen as a potential successor to the SEC chair.

Guillén is currently a partner at a law firm and co-head of the blockchain team. Her career spans traditional finance and the encryption field, having served as a litigation attorney at the SEC and provided legal consulting for multiple blockchain projects. This unique background makes her an ideal candidate to bridge traditional finance and emerging technologies.

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Guillén has a friendly attitude towards the encryption industry and advocates for a more open stance when formulating relevant regulations. She believes that regulatory agencies should provide a supportive framework for technological innovation rather than adopt a hardline approach. This viewpoint has gained widespread support from the Web3 community.

If Guillén ultimately becomes the chairman of the SEC, it could bring new development opportunities for the U.S. encryption industry. She proposed establishing a new classification system for digital assets, no longer relying solely on the traditional Howey test to determine the nature of encryption assets. This initiative is expected to provide clearer regulatory guidance for the industry and attract more institutional capital.

However, challenges still exist. The new SEC chairman needs to find a balance between promoting innovation and protecting investors' interests, while also maintaining market stability. The answers to these questions may only become clearer after the new leadership takes office.

Regardless, the recent leadership change at the SEC undoubtedly brings new hope to the encryption industry. The industry is looking forward to a clearer and more friendly regulatory environment to promote the further development and application of encryption technology.

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