A former SEC Official said “Bitcoin Sport cannot be Granted Now, Permission Depends on US Elections”

John Reed Stark, a former member of the SEC, has made public his assessment of the agency’s propensity to approve the Bitcoin Spot ETF.

After former SEC official, John Reed Stark weighed in on the discussion over the legality of Bitcoin spot ETFs, things got interesting.

Stark, a prominent figure in the field of financial regulation, has expressed concern that the current SEC may reject an application for a Bitcoin spot ETF for the reasons given by independent experts.

But it also suggests that the legal landscape for cryptocurrencies might undergo a dramatic upheaval after the 2024 presidential election.

Stark starts out by answering the most pressing concern of many: will the current SEC accept any of the recent applications for Bitcoin spot ETFs?

Stark agrees with BetterMarkets’ assessment that the reasons given in these comment letters show why the SEC could be reluctant to approve Bitcoin spot ETFs.

Stark elaborated on what a Republican presidency in 2024 may mean for the country. The expert predicted that the US government’s stance on cryptocurrency would alter dramatically if a Republican was elected president.

Stark claims that a Republican-led SEC can do the following. Reducing Crypto Sanctions: A new SEC led by Republicans may prioritise fraud cases while decreasing enforcement for technical breaches of crypto regulations.

Stark speculates that if the Republicans take control of the SEC, they will be more likely to approve Bitcoin spot ETFs and implement other crypto-friendly regulatory measures.

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