Former US President Donald Trump May Change Crypto Stance Dramatically, Says Ex-SEC Official

The U.S. Securities and Exchange Commission’s erstwhile caput of net enforcement says erstwhile U.S. President Donald Trump’s anti-crypto stance whitethorn alteration dramatically. He further predicted that if a Republican is elected U.S. president, a Republican-appointed SEC seat would, astatine a minimum, o.k. a bitcoin exchange-traded money (ETF) and “may adjacent dilatory down considerably SEC crypto-related enforcement efforts.”

Former SEC Official connected Donald Trump’s Anti-Crypto Stance

Former U.S. Securities and Exchange Commission (SEC) authoritative John Reed Stark has argued that erstwhile President Donald Trump could “dramatically” alteration his presumption connected cryptocurrencies. Stark is presently president of cybersecurity steadfast John Reed Stark Consulting. He founded and served arsenic main of the SEC Office of Internet Enforcement for 11 years. He was besides an SEC enforcement lawyer for 15 years. Trump is moving for president successful 2024.

“Former President Trump is connected grounds arsenic being powerfully anti-bitcoin and anti-crypto,” Stark wrote connected societal media level X Wednesday. However, the erstwhile SEC authoritative argued:

Crypto-voters mightiness beryllium one-issue voters and are a almighty and passionate constituency, truthful possibly erstwhile President Trump volition alteration his crypto-tune dramatically.

Citing aggregate media reports, helium besides noted that Trump present owns immoderate cryptocurrency. The erstwhile U.S. president reportedly disclosed crypto holdings of $2.8 cardinal successful ether (ETH) successful August aft debuting a non-fungible token (NFT) postulation past year.

In 2019, Trump stated that helium is “not a instrumentality of bitcoin oregon different cryptocurrencies,” emphasizing that they’re not money. He further said they are “based connected bladed air,” adding that “unregulated crypto assets tin facilitate unlawful behavior, including cause commercialized and different amerciable activity.” Moreover, helium said successful 2021 that crypto is very dangerous.

The erstwhile SEC net enforcement main concluded connected Wednesday:

Under immoderate circumstance, it seems apt that if a Republican is elected U.S. president, a Republican-appointed SEC seat would, successful the least, o.k. a bitcoin spot ETF and whitethorn adjacent dilatory down considerably SEC crypto-related enforcement efforts.

Last month, Stark highlighted a fig of potential changes that could payment the crypto industry. They included a Republican president being elected, SEC Chairman Gary Gensler resigning, and “crypto mom” Hester Peirce being appointed arsenic the acting SEC Chair.

Do you deliberation erstwhile U.S. President Donald Trump volition go crypto-friendly? Let america cognize successful the comments conception below.