Positive moves are expected for the cryptocurrency industry after Donald Trump takes office as president and makes changes to critical positions such as the SEC and CFTC chairmanships.
Trump’s nomination of Paul Atkins to head the SEC is awaiting confirmation by the Senate.
While confirmation for Paul Atkins is eagerly awaited, Bitwise Chief Compliance Officer (CCO) Katherine Dowling said that the SEC is currently in a transition period and needs to approve the appointment of the new chairman, Paul Atkins.
Stating that the SEC’s new crypto task force is incredibly realistic, Dowling said that he expects the task force to do good work.
Speaking about the Ripple case and ongoing lawsuits, Dowling stated that the SEC is waiting for a “directive from above” regarding the outcome of the cases.
“These things don’t go away overnight, and they shouldn’t. But when you have new leadership, there’s a new perspective. It asks, are we looking at the right things in this particular case? Is there a compromise stance that can get us both what we want?”
Dogecoin is in a More Advantageous Situation!
Speaking about the possible outcomes of ETF applications, the Bitwise executive stated that the security nature of some altcoins such as Solana (SOL) and XRP is still debatable.
Dowling, who likened these altcoins to “dolphins caught in fishing nets”, said that the situation regarding these altcoins should be clarified under the leadership of the new SEC chairman. However, the famous name added that if clarity is provided, ETF approval may come, and said that the process for the Dogecoin (DOGE) ETF is clearer and more open.
Dowling added that the SEC has never and nowhere considered DOGE a security, and that a DOGE ETF could be easier to approve.
The Bitwise COO finally added that a Bitcoin and Ethereum combination ETF could be approved quickly.
*This is not investment advice.
