Us SEC Chief Could Resign Based on 2024 Election Results According to Former SEC Official
On august 13, john reed stark, former head of the sec’s internet enforcement office, predicted the possible resignation of the us sec chairman, gary gensler, depending on the outcome of the us primary elections in 2024.
According to stark, the current sec chairman could change his regulatory approach to crypto based on the outcome of the election.
The former sec official also pointed out the potential for major changes in crypto regulation if a republican president is elected, including the exclusion of gensler by hester peirce known as “Crypto mom”.
Stark underscored the divergence of views within sec crypto regulation, as well as noting the polarization of such regulation in the U.S. Politics more broadly.
When he first started writing about crypto in 2017, stark noted that politicians’ views were mixed, with some favoring and others crypto-viruses.
However, he indicated that until such time as republicans take office, a significant change in crypto-friendly attitudes is unlikely.
It is likely that the SEC will reject the current bitcoin spot ETF filing due to the bidding against its closing trading volume and processing potential.
In the context of the ongoing conflict, stark shared his view that the spot bitcoin market has a concentration of trading volume that is vulnerable to looting by bad actors.
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