• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Wednesday, May 14, 2025
  • Login
  • Register
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Crypto

SEC’s approach is slowing Bitcoin’s progress: Grayscale CEO

by Reshab Agarwal
January 24, 2023
in Crypto, Crypto Regulation, News
Reading Time: 2 mins read
0
SEC's approach is slowing Bitcoin's progress: Grayscale CEO
TwitterWhatsappLinkedin

Grayscale’s CEO, Michael Sonnenshein, recently published a letter in The Wall Street Journal where he said that SEC’s approach is slowing Bitcoin’s progress. Michael is of the opinion that the US SEC has a one-dimensional approach toward Bitcoin, which is a major problem. He also criticized SEC for being late to the game in terms of regulation and being unable to prevent FTX’s collapse and bankruptcy.

You might also like

Trump Residences Gurugram Phase 2 Sold Out, Nets ₹3,250 Cr

US-China Trade War Eases as Both Sides Cut Tariffs After Marathon Talks

UK Opens Doors: 1800 New Work Visas for Indians

SEC’s approach is slowing Bitcoin’s progress

Michael even said that the world late doesn’t even signify what’s wrong here. The approach SEC is taking towards regulating Bitcoin, and the entire crypto industry is simply not working. They have rejected so many Bitcoin spot ETFs till now but haven’t given a solid reason for doing so. Michael then said that the SEC should definitely eliminate anything negative going on in the space, but at the same time, they shouldn’t hinder development by inappropriate regulation.

SEC's approach is slowing Bitcoin's progress: Grayscale CEO
Credits: Finance Magnets

The incompetence of the SEC has been a major roadblock to the growth of Bitcoin in the US. It is also why US crypto investors are forced to use platforms and rely on businesses located outside the country. This again increases the chances of scams and reduces customer protection.

The SEC’S main priority should be customer protection. However, it doesn’t look like that in reality. In fact, they are more focused on litigation which is clearly visible by the number of cases they are filing against other companies. There has hardly been any effort from their end to provide more clarity to investors or businesses.

Grayscale has sued SEC

The investment management company has sued the SEC for wrongfully rejecting spot Bitcoin ETF countless times. It has also rejected GBTC’s application to convert into a spot Bitcoin ETF. Their argument was that Grayscale had not taken efficient measures to protect users from scams and fraud. However, the SEC lacked any solid reason to do, and they were treating spot and futures products differently at their whims. If SEC had focused on the right areas, the crypto market would have been in a better position, and investors would have been more protected.


What are your thoughts as Grayscale’s CEO says that SEC’s approach is slowing Bitcoin’s progress? And what do you think they can do better? Let us know in the comments below. And, if you found our content informative, share it with your family and friends.

Also Read: Microsoft’s layoffs will hit VR and Metaverse teams the most.
Tags: #CryptoregulationSEC
Tweet54SendShare15
Previous Post

New headset on its way, Apple in talks with Disney & others

Next Post

 Markets rocket higher as all eyes on Microsoft to kick off tech earnings season

Reshab Agarwal

Reshab is a tech-enthusiast who likes to write about all things crypto. He is a Bitcoin bull and believes in a decentralized future of finance. Follow him on Twitter for more!

Recommended For You

Trump Residences Gurugram Phase 2 Sold Out, Nets ₹3,250 Cr

by Ishaan Negi
May 14, 2025
0
Trump Residences Gurugram Phase 2 Sold Out, Nets ₹3,250 Cr

In a stunning affirmation of India’s booming luxury real estate sector, Trump Residences Gurugram—a joint venture between Tribeca Developers and the Trump Organization—has sold out its second phase,...

Read more

US-China Trade War Eases as Both Sides Cut Tariffs After Marathon Talks

by Thomas Babychan
May 13, 2025
0
US-China Trade War Eases as Both Sides Cut Tariffs After Marathon Talks

In a significant development that promises to reshape the global trade dynamics, the United States and China have come to an agreement to substantially roll back tariffs imposed...

Read more

UK Opens Doors: 1800 New Work Visas for Indians

by Ishaan Negi
May 13, 2025
0
UK Opens Doors: 1800 New Work Visas for Indians

As India and the UK near the finalisation of their long-negotiated Free Trade Agreement (FTA), a transformative opportunity is unfolding—especially for Indian professionals, service providers, and businesses.

Read more
Next Post
 Markets rocket higher as all eyes on Microsoft to kick off tech earnings season

 Markets rocket higher as all eyes on Microsoft to kick off tech earnings season

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?