John Reed Stark, a former official at the U.S. Securities and Exchange Commission (SEC), has suggested that the approval of a Bitcoin exchange-traded fund (ETF) based on the spot market could be possible if a Republican candidate wins the presidential election in 2024. Stark believes that the Republican party has a greater affinity towards cryptocurrencies compared to Democrats, and if a Republican president is in office, there could be changes in the SEC’s approach and regulatory priorities. Stark also mentions Hester Peirce, an SEC Commissioner with a pro-crypto stance, as a potential contender for the role of acting SEC Chair. While these projections are speculative, they highlight the influence of political dynamics on crypto-related policies and regulatory decisions. The future of digital assets is intertwined with the shifting tides of politics and the visions of those in power.
AI Sentiment: Positive
