How Grayscale’s Win Will Reshape the Crypto Industry According to ExpertsExperts believe Grayscale’s win is a “favorable development” for regulations that safeguard investors instead of imposing restrictions.
Grayscale sued the SEC in June 2022 after the agency rejected its application filed in October 2021 despite multiple delays. The Commission hadthat the asset manager failed to disclose how it would prevent market manipulation but approved multiple futures ETFs of a similar nature. Chekroun said the SEC’s power to regulate the crypto space is “slowly being chipped away,” as seen in its case against Ripple Labs and XRP. Arguments about Congress not granting the Commission the power to regulate through enforcement are beginning to come up, and they may have influenced the recent decisions by the courts.