Grayscale wins lawsuit against the SEC

2023-08-29 22:30:26

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ChainCatcher news, according to court documents, Grayscale has won the lawsuit against the SEC.

Previously, ChainCatcher reported on October 12 of last year that the cryptocurrency asset management company Grayscale Investments had submitted an opening brief for its lawsuit against the U.S. Securities and Exchange Commission (SEC) for rejecting its application for a spot Bitcoin exchange-traded fund. Grayscale's Chief Legal Officer Craig Salm stated that there is "no distinction between spot ETFs and futures ETFs in the context of Bitcoin," because "the pricing of CME Bitcoin futures is itself lower than the spot Bitcoin market." The brief stated that the SEC failed to demonstrate why there would be a fundamentally different treatment for Bitcoin futures ETPs and spot Bitcoin ETPs, thus violating the most basic requirements of the U.S. Administrative Procedure Act.

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