Republican

Bitcoin

when

The era of intense scrutiny and regulatory actions against cryptocurrencies in the United States may be coming to an end, according to former SEC official John Reed Stark.
Following Donald Trump’s recent victory in the US presidential election, Stark explained that the SEC’s so-called “war on crypto” is likely to end under new political leadership.
During an X Spaces session on Thursday, Stark, who previously led the SEC’s Office of Internet Enforcement, said the agency is unlikely to file more fraud cases against participants in the cryptocurrency industry under Trump. That shift would mark a significant shift from the policies of current SEC Chairman Gary Gensler, whose tenure was marked by aggressive enforcement actions.
Under Gensler’s leadership, the SEC has launched lawsuits and investigations against major U.S. cryptocurrency organizations, including ConsenSys, Coinbase, and Kraken, for alleged violations of federal securities laws. Gensler has argued that cryptocurrency firms should be regulated similarly to traditional securities markets, leading to sweeping enforcement actions. These policies have been controversial, drawing criticism not only from the crypto industry but also from lawmakers, including Democrats like New York Rep. Ritchie Torres, who has accused Gensler of overreach.
Stark predicts that cases involving only “egregious fraud” will continue and that the SEC will instead focus on resolving cases that judges have already decided.
Related News: <a href="https://en.bitcoinsistemi.com/whats-next-for-bitcoin-btc-analysts-share-what-they-expect-after-trumps-victory/" target="_blank" rel="noopener noreferrer nofollow">What's Next for Bitcoin (BTC)? Analysts Share What They Expect After Trump's Victory!</a>
Gensler’s future at the SEC remains uncertain. Trump has publicly said he would fire Gensler on his first day in office, but Stark believes an outright ouster may not be necessary. Trump could instead appoint one of the Republican SEC Commissioners as acting chairman, effectively demoting Gensler to the role of commissioner.
Speculation surrounding potential candidates for the SEC’s top role suggests that veteran Republican SEC Commissioner Hester Peirce is a popular favorite. Known as “Crypto Mom,” Peirce is well-respected in the crypto industry for her relatively soft stance on regulation. However, she has previously indicated that she may not seek a long-term chair position when her term ends next year.
Other candidates include Mark Uyeda, who has criticized the SEC’s approach under Gensler, calling it harmful to the industry, and Dan Gallagher, Robinhood’s chief legal officer and a former SEC commissioner. Former SEC Commissioner Paul Atkins and former CFTC Chairman Chris Giancarlo have also been mentioned as potential candidates.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/famous-bitcoin-enemy-expert-gave-the-good-news-secs-war-against-cryptocurrencies-is-over/" rel="noopener noreferrer nofollow">Famous Bitcoin Enemy Expert Gave the Good News: “SEC’s War Against Cryptocurrencies is Over”</a>

Famous Bitcoin Enemy Expert Gave the Good News: “SEC’s War Against Cryptocurrencies is Over”

Bitcoin Sistemi EN

Other articles published on Nov 9, 2024

Ethereum ETF Options Still Waiting for Approval

Changpeng Zhao Urges Caution for Crypto Traders

Dogecoin Gains Momentum: Can DOGE Hit $0.27 Again?

VeChain (VET) and VeThor (VTHO) on the Verge of a Major Breakout: Is a Rally on Horizon?

CZ Reacts to Anniversary of FTX Disaster

Trump Promises Crypto-Oriented SEC Chair: What It Means for XRP, Bitcoin, and More

Join our free newsletter for daily crypto updates!