TechFlow news — On August 13, John Reed Stark, former head of internet enforcement at the U.S. Securities and Exchange Commission (SEC), stated on X that the SEC is currently not going to approve any spot Bitcoin ETF applications.
Furthermore, Stark suggested that if Republicans win the White House in 2024, the SEC might reduce its enforcement actions against cryptocurrency and "become more willing to approve spot Bitcoin ETFs, and more likely to take other significant crypto-friendly regulatory steps."
Stark also believes that if the next U.S. president is a Republican, current SEC Chair Gary Gensler "may resign," and Hester Peirce—widely known in the industry as the "crypto mom"—could become acting chair, bringing an abrupt end to "the SEC's chaos surrounding cryptocurrency."
