Former Internet Enforcement Director of the SEC: The current SEC will not approve applications for Bitcoin spot ETFs

2023-08-13 23:17:47

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ChainCatcher news, former Internet enforcement director of the SEC John Reed Stark stated on X that the current U.S. Securities and Exchange Commission (SEC) will not approve applications for Bitcoin spot ETFs.

Stark believes that if Republicans take over the White House in 2024, the SEC may reduce its enforcement efforts on cryptocurrencies and "become more willing to approve Bitcoin spot ETFs and is more likely to take other significant cryptocurrency-friendly regulatory actions."

Additionally, Stark mentioned that if the next president is a Republican, current SEC Chairman Gary Gensler "may resign," and Hester Peirce, known in the industry as the "crypto mom," could become the acting chair, while "the chaos related to the SEC and cryptocurrencies would come to an abrupt end."

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U.S. SEC Bitcoin Spot ETF

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