• Former SEC official John Reed Stark predicted that a Republican President in 2024 could replace SEC Chairman Gary Gensler with Commissioner Hester Peirce, often referred to as “Crypto Mom.”
• Stark noted Peirce’s history of dissent and opposition to many of the regulator’s crypto-related enforcement.
• Crypto has become a far more divisive issue among U.S. politicians, with Republican candidate Ron de Santis vowing to “protect” Bitcoin (BTC) and ban central bank digital currencies.
Former SEC Official Predicts Possible Changes To Crypto Regulations In 2024
Tom Mitchelhill, 19 hours ago – Former SEC official John Reed Stark believes SEC chair Gary Gensler could throw in the towel, depending on a possible scenario to play out in 2024.
Republican Candidate Could Replace Gensler As SEC Chair
Should a Republican be elected as president, according to Stark, Gensler would likely be replaced by Commissioner Hester Peirce — often referred to as “Crypto Mom.”
Stark noted Peirce’s history of dissent and opposition to many of the regulator’s crypto-related enforcement, and explained that if Peirce were to become the head of the SEC: “The world should expect that most U.S. SEC crypto-related enforcement and most crypto-related SEC disruption would grind to a screeching halt.”
Increasing Polarization Of Crypto Regulation Among Politicians
When Stark first began writing about crypto in 2017, he said that a diverse scope of politicians held the same viewpoint, with then-President Donald Trump, Secretary Hilary Clinton and Congresswoman Maxine Waters all agreeing that crypto was a “dangerous and horrific plague.” Now, however, crypto has become a far more divisive issue among U.S. politicians — such as Republican candidate Ron de Santis who vowed to both “protect” Bitcoin (BTC) while simultaneously banning central bank digital currencies.
Will The Recent Bitcoin Spot ETF Applications Be Approved?
People often ask for my opinion on whether the SEC will approve any of the recent spate of bitcoin spot ETF applications, which is an interesting and important question,” said Stark on Twitter earlier this week– suggesting that even current regulatory policies may change drastically over time if there is sufficient political pressure from within or from outside forces pushing for new regulations or guidance surrounding cryptocurrency or its related activities..
Conclusion
It remains unclear how exactly U.S.-based cryptocurrency regulation will evolve over time given events such as upcoming presidential elections or other external factors– but it’s clear that those closely involved are already speculating about potential changes at large agencies like the Securities Exchange Commission (SEC).