This scenario could spark Gary Gensler’s resignation: Former SEC official
The United States’ securities regulator could completely u-turn its approach to crypto enforcement, depending on a key election in the United States in 2024, according to former SEC official John Reed Stark.
In an Aug. 13 tweet, the former SEC Office of Internet Enforcement chief predicted that a Republican President could drastically shift the crypto-regulatory tide, including the potential resignation of SEC chief Gary Gensler.
There are currently a number of Republican candidates in the running. Former-President Donald Trump remains the most popular candidate among Republican voters, followed in a distant second by Florida Governor Ron de Santis and then by South Carolina Senator Tim Scott.
Should a Republican be elected as President, according to Stark, Gensler would likely be replaced by crypto-friendly Hester Peirce — often referred to as "Crypto Mom.”
Will the SEC Approve Any Of The Recent Bitcoin Spot ETF Applications?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.My take is that the current SEC will… pic.twitter.com/lPXebl03Y4
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:
Stark also drew attention to the increasing polarization of crypto regulation within the SEC and U.S. politics more broadly.
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,
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