• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
SUBSCRIBE
TechStory
  • 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

Reshab Agarwal by Reshab Agarwal
January 24, 2023
in Crypto, Crypto Regulation, News
0
SEC's approach is slowing Bitcoin's progress: Grayscale CEO
215
SHARES
3.6k
VIEWS
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

Byju’s calls for AGM to approve audited FY22 financials as more troubles mount

Spotify to cut 1,500 jobs in third layoff round this year, shares jump

BYJU’S Delays November Pay Of 1K Staff Citing Technical Glitch

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
Reshab Agarwal

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

Byju’s calls for AGM to approve audited FY22 financials as more troubles mount

by Ishaan Negi
December 5, 2023
0
Byju’s Challenges ‘Predatory’ Lenders in $1.2B Term Loan Lawsuit

Byju's, the largest edtech business in India, has called an annual general meeting (AGM) as it navigates rough waters right now due to a number of issues. This...

Read more

Spotify to cut 1,500 jobs in third layoff round this year, shares jump

by Ishaan Negi
December 5, 2023
0
Spotify to cut 1,500 jobs in third layoff round this year, shares jump

The massive worldwide music streaming company Spotify made a huge move by announcing a significant reduction in staff, part of a strategic pivot aimed at balancing its finances....

Read more

BYJU’S Delays November Pay Of 1K Staff Citing Technical Glitch

by Ishaan Negi
December 4, 2023
0
Byju’s Initiates Lender Call for Loan Amendment Proposal Amidst Financial Struggles

Leading edtech company BYJU'S is currently traversing a tumultuous period of difficulties, with anything from a large valuation decline to around 1,000 employees' salaries being delayed. This article...

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

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Nexcopy USB Duplicator

Make data loading to flash drives a simple process. Nexcopy USB Duplicator Systems.

Related News

How To Beat Escape from the Castle Claymount

How To Beat Escape from the Castle Claymount

December 2, 2023
Blooket

How to hack blooket

September 30, 2022
How to get Johnny Silverhand arm in ‘Cyberpunk 2077’

How to get Johnny Silverhand arm in ‘Cyberpunk 2077’

August 28, 2023
How to send a gift message on Instagram

How to send a gift message on Instagram

August 18, 2023
How to get Santa on ring doorbell

How to get Santa on ring doorbell

August 7, 2022
How To Skip Fortnite Queue Xbox

How To Skip Fortnite Queue Xbox

December 3, 2023

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 info@techstory.in

Advertise With Us

Reach out at info@techstory.in

BROWSE BY TAG

#Crypto acquisition AI amazon android Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk entrepreneurship Ethereum facebook flipkart funding Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT Russia Social Media SpaceX startup startups tech Tech news technology Tesla TikTok trending twitter uber whatsapp

© 2023 Techstory Media Pvt Ltd

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

© 2023 Techstory Media Pvt Ltd

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