A former SEC official believes that a Bitcoin exchange-traded fund (ETF) will not be approved until a Republican is elected president in 2024. He suggests that Republicans are generally more supportive of cryptocurrency than Democrats. He predicts that if a Republican is elected, the SEC’s crypto-enforcement efforts will decrease and there will be a higher likelihood of approving a Bitcoin spot ETF and other crypto-friendly regulations. The current SEC chairman would likely resign, and a senior Republican-appointed SEC commissioner, such as Hester Peirce, could potentially become acting chair.
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