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John Reed Stark, a former official at the US Securities and Exchange Commission (SEC), believes that a spot Bitcoin exchange-traded fund (ETF) will not be approved by the SEC anytime soon due to concerns over manipulation and market concentration. He also notes that the issue of cryptocurrency regulations has become partisan within the SEC, with the crackdown beginning under the Republican-appointed SEC Chair Jay Clayton. However, Stark suggests that if a Republican wins the US Presidency in 2024, there could be two possible outcomes for the approval of a spot Bitcoin ETF.
AI Sentiment: Neutral
