Crypto Lawyer: Republican President Might Lead To Spot Bitcoin ETF Approval

• Crypto lawyer John Stark believes {that a} Republican U.S. President could approve Spot Bitcoin ETFs.
• Stark said that candidates like Donald Trump could take a pleasant stance towards crypto.
• The lawyer predicted that crypto customers could change into one-issue voters within the upcoming elections.

John Reed Stark, a authorized skilled widespread amongst crypto circles on-line, believes that the upcoming elections will play a key function within the crypto coverage of the USA. In response to the crypto lawyer, politicians who had been beforehand vital of cryptocurrencies could take a friendlier stance given the recognition of crypto property.

Stark took to X (previously Twitter) earlier as we speak to share his ideas on the affect of the upcoming U.S. Presidential elections on the nation’s crypto market.

As per the crypto lawyer, if a Republican candidate is elected president, the Republican-appointed Chair of the Securities and Trade Fee (SEC) could also be inclined to approve the numerous functions for Spot Bitcoin exchange-traded fund (ETF).

In response to Stark, a brand new SEC Chair could even lower the regulatory scrutiny of the U.S. crypto market and convey down the company’s crypto-related enforcement efforts. To assist his thesis, the crypto lawyer highlighted that crypto customers in the USA would possibly change into one-issue voters within the upcoming election cycle.

One/single-issue voting is basically supporting politician candidates primarily based on one coverage space or thought. Stark advised his followers on X that the crypto customers within the U.S. made up a robust and passionate constituency and accounted for a substantial share of the voting inhabitants. This will likely encourage beforehand anti-crypto candidates to rethink their stance.

Citing the instance of former U.S. President Donald Trump, Stark highlighted how he was strongly anti-Bitcoin and anti-crypto throughout his tenure. Nonetheless, current reviews recommended that Trump had adopted a friendlier stance in the direction of crypto and even owned crypto property. Monetary disclosures made by Trump final month confirmed that he held $2.8 million value of crypto property.