2024 elections in the US would have an impact on cryptocurrencies

The US securities regulator could change its approach to crypto enforcement depending on key elections in 2024, says former SEC official John Reed Stark. In a tweet, he predicts that the Republican president could influence crypto regulation, possibly naming crypto-friendly commissioner Hester Peirce as chair.

Several Republican candidates are running, with Donald Trump as the most popular, followed by Ron de Santis and Senator Tim Scott. If a Republican wins, Stark suggests that Peirce replace Gary Gensler as SEC chairman. Peirce is known as “Crypto Mom” or the “criptomadre”.

Stark notes polarization in cryptocurrency regulation. In 2017, politicians like Donald Trump and Hillary Clinton considered cryptocurrencies a “dangerous plague.” Today, there is division: Ron de Santis wants to “protect” bitcoin, while Elizabeth Warren fights against cryptocurrencies.

Until a Republican sits in the Oval Office, Stark said the regulator was unlikely to become any more crypto-friendly, predicting that the SEC will reject the current spate of applications for spot bitcoin ETFs for a series of “compelling” reasons.

K. Tovar

Source: Cointelegraph

(Reference image source: Kenny Eliason, Unsplash)

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