Former SEC Head John Reed Stark Believes Present SEC Will Not Approve Spot Bitcoin ETF
The Securities and Trade Fee (SEC) will not be going to amend its place towards permitting exchange-traded funds (ETFs) in Bitcoin spot markets.
There Are Issues That The Present SEC Will Not Approve Spot Bitcoin ETF
He cited a letter for the SEC’s method to regulating the cryptocurrency market from Higher Markets, a nonprofit group with headquarters in Washington. In accordance with Higher Markets, the community upkeep of the Bitcoin market depends on a small group, and is topic to manipulation.
As well as, Stark made predictions on how the SEC will regulate cryptocurrencies after the 2024 presidential election. He predicted {that a} GOP-led administration could take a extra pro-crypto posture if a Republican candidate wins, thereby streamlining the approval course of for spot ETFs. He added that the SEC’s enforcement actions would possibly reduce underneath Republican management of the company’s management.
