Grayscale’s Legal Team Deems SEC’s Handling of Bitcoin ETF Application “Inconsistent”
It is reported that the legal team of Grayscale said that the way the United States Securities and Exchange Commission (SEC) handled its application for Bitcoi…
It is reported that the legal team of Grayscale said that the way the United States Securities and Exchange Commission (SEC) handled its application for Bitcoin Exchange Trading Fund (ETF) was “inconsistent” with its earlier decision on futures ETF. Donald B. Verrilli, the representative lawyer, said: “This is only a typical case. Treat similar cases and treat them differently.”
Grayscale legal team: SEC’s handling method of ETF is “inconsistent”
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According to reports, the legal team of Grayscale has criticized the United States Securities and Exchange Commission’s (SEC) handling of its application for a Bitcoin Exchange Trading Fund (ETF). Grayscale’s representative lawyer, Donald B. Verrilli, claimed that the SEC’s decision was “inconsistent” with its earlier decision on futures ETF. Verrilli remarked that “This is only a typical case. Treat similar cases and treat them differently.”
This statement appears to suggest Grayscale’s legal team may seek legal action regarding the SEC’s decision on the Bitcoin ETF application. Grayscale is the world’s largest digital currency asset manager, with over $28 billion in assets under its management. The company has previously applied for a Bitcoin ETF with the SEC, but its application has been rejected thus far.
Verrilli’s statement indicates a concern about the SEC’s inconsistency in handling similar cases. The legal team believes that the SEC should treat Grayscale’s Bitcoin ETF application with a similar approach as it has taken with futures ETFs. Verrilli’s use of the term “typical case” suggests that Grayscale’s legal team views its application as no different from other ETF applications under review by the SEC.
The legal team’s statement also highlights the current regulatory uncertainties surrounding the crypto market. Despite the growing popularity of digital currencies, the lack of clear regulations has led to a great deal of ambiguity and confusion in the industry. The SEC’s inconsistency in handling similar cases only highlights this issue further.
Moreover, it is important to note that Grayscale’s Bitcoin ETF application has gained considerable attention in the cryptocurrency community, as a successful launch could potentially open greater access to digital currencies for institutional investors. However, the SEC’s decision indicates that it still has concerns regarding investor protection and potential market manipulation.
In conclusion, Grayscale’s legal team’s criticism of the SEC’s handling of its Bitcoin ETF application highlights the regulatory uncertainties surrounding the crypto market. The legal team’s concern about the SEC’s inconsistency in handling similar cases indicates a need for clearer regulations and guidelines for digital currencies. The title “Grayscale’s Legal Team Deems SEC’s Handling of Bitcoin ETF Application “Inconsistent”” correctly captures the essence of the news piece, while the keywords “Grayscale,” “SEC,” “Bitcoin ETF” highlight the main protagonists and the issue at hand.
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