SEC VS Bitcoin Spot ETF: Grayscale cries injustice

Grayscale has just started a legal battle against the SEC. The reason: the rejection of the Bitcoin Spot ETF by the SEC. The investment company denounces the incoherent decision and the inequity of the American regulator.

SEC Denies Bitcoin Spot ETF Application: Grayscale Fights Back!

Grayscale Sues the SEC: A Fight for Fairness in Crypto Regulations

For weeks, the approval of Bitcoin Spot ETF applications by the SEC has been at the center of several debates. The regulator pronounced a first verdict a few days ago : a refusal (as expected). Hence the legal process initiated by Grayscale on July 10 with the Columbia Court of Appeal.

“SEC Rejection of Bitcoin Spot ETF Is Blatant Evidence of Regulatory Inconsistency”says Grayscale attorney Donald Verrilli. “We do not dispute the existence of leveraged futures ETFs. In contrast, we demand that the SEC apply the same standards and fairness to spot Bitcoin ETFs”he added. Grayscale thus raises legitimate concerns about Bitcoin market transparency and regulation.

Rejection of the Bitcoin Spot ETF and approval of a leveraged Bitcoin futures ETF: A double standard from the SEC?

Even today, the approval of the leveraged Bitcoin futures ETF by the SEC is drawing criticism. For Grayscale, this indeed connotes the existence of a regulatory double standard. “The SEC authorized an even riskier investment product, which raises questions about the consistency of its decisions”said Grayscale’s lawyer.

As for the rejection of the Bitcoin Spot ETF by the SEC, it will certainly have direct consequences for crypto investors. To reduce risk and encourage wider adoption of cryptocurrency, the SEC should enforce fair and consistent regulations. Public confidence in the crypto industry greatly depends on it.

One thing is certain: Grayscale’s lawsuit over rejection of the Bitcoin Spot ETF sheds light on regulatory inconsistencies and possible double standards in the crypto industry. He once again denounces the importance of clear crypto regulations.

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