Grayscale’s lawsuit against the U.S. Securities and Exchange Commission (SEC) for the denial of GBTC conversion to spot Bitcoin ETF picks pace as things have started to look in favor of Grayscale.
Crypto influencer Andrew in a tweet on February 21 shared that Grayscale’s chances to win the lawsuit against the SEC are currently in discussion in the crypto community. If Grayscale wins the lawsuit, the U.S. will get a proper spot Bitcoin ETF. The District of Columbia Court of Appeals will hear oral arguments on March 7.
“Legal minds believe their brief is powerful and the court may be prone to pushing back on regulatory overreach.”
While Grayscale is confident over its appeal against the SEC, a win could prove to be a major victory for the crypto industry. However, lawyers believe if Grayscale loses the case, they would take the case to the U.S. Supreme Court to have even better chances of winning.
Craig Salm, chief legal officer at Grayscale, shared a powerful line from the openi
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