The Securities and Exchange Commission (SEC) is not going to amend its position against allowing exchange-traded funds (ETFs) in Bitcoin spot markets.
There Are Concerns That The Current SEC Will Not Approve Spot Bitcoin ETF
He cited a letter for the SEC's approach to regulating the cryptocurrency market from Better Markets, a nonprofit organization with headquarters in Washington. According to Better Markets, the network maintenance of the Bitcoin market is dependent on a small group, and is subject to manipulation.
In addition, Stark made predictions on how the SEC will regulate cryptocurrencies after the 2024 presidential election. He predicted that a GOP-led administration may take a more pro-crypto posture if a Republican candidate wins, thereby streamlining the approval process for spot ETFs. He added that the SEC's enforcement activities might lessen under Republican control of the agency's leadership.