- Crypto lawyer John Stark believes that a Republican U.S. President may approve Spot Bitcoin ETFs.
- Stark stated that candidates like Donald Trump may take a friendly stance toward crypto.
- The lawyer predicted that crypto users may become one-issue voters in the upcoming elections.
John Reed Stark, a legal expert popular among crypto circles online, believes that the upcoming elections will play a key role in the crypto policy of the United States. According to the crypto lawyer, politicians who were previously critical of cryptocurrencies may take a friendlier stance given the popularity of crypto assets.
Stark took to X (formerly Twitter) earlier today to share his thoughts on the impact of the upcoming U.S. Presidential elections on the country’s crypto market.
As per the crypto lawyer, if a Republican candidate is elected president, the Republican-appointed Chair of the Securities and Exchange Commission (SEC) may be inclined to approve the many applications for Spot Bitcoin exchange-traded fund (ETF).
According to Stark, a new SEC Chair may even decrease the regulatory scrutiny of the U.S. crypto market and bring down the agency’s crypto-related enforcement efforts. To support his thesis, the crypto lawyer highlighted that crypto users in the United States might become one-issue voters in the upcoming election cycle.
One/single-issue voting is essentially supporting politician candidates based on one policy area or idea. Stark told his followers on X that the crypto users in the U.S. made up a powerful and passionate constituency and accounted for a considerable percentage of the voting population. This may encourage previously anti-crypto candidates to reconsider their stance.
Citing the example of former U.S. President Donald Trump, Stark highlighted how he was strongly anti-Bitcoin and anti-crypto during his tenure. However, recent reports suggested that Trump had adopted a friendlier stance towards crypto and even owned crypto assets. Financial disclosures made by Trump last month showed that he held $2.8 million worth of crypto assets.
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