A United States appeals court is set to hear the oral arguments relating to Grayscale Investment’s lawsuit against the Securities and Exchange Commission (SEC) over its decision to deny Grayscale’s Bitcoin (
Grayscale CEO Michael Sonnenshein reiterated a similar point during an interview on CNBC’s Squawk Box on Jan. 24, stating:
“It’s important to remind the role that regulators like the SEC play when it comes to investors. They’re not here to tell investors what to or what not to invest in. They’re here to ensure all the proper disclosures are made […] so [investors] are aware of all the risks associated.”
“Crypto is here to stay. Regulators are not here to tell investors what to and what not to invest in. They’re here to ensure all the proper disclosures are made…so investors understand all the risks associated,” says @Grayscale @sonnenshein. “That’s really the role of the SEC.” pic.twitter.com/k30y6DewBe
— Squawk Box (@SquawkCNBC) January 24, 2023
Sonnenshein said they were “certainly expecting” a decision from the courts regarding its case against the SEC in “Q2 or Q3 of this year.”
“The frustrating thing for investors and certainly the Grayscale team is that we’re actually a business that was born in the U.S., made use of existing U.S. regulatory frameworks to bring crypto to investors in a safe and compliant way.”
“Meeting with both houses yesterday and today, what we’re really hearing […] is that had the SEC already approved this spot-Bitcoin ETF […] a lot of the recent investor harm we’ve seen in crypto would’ve been prevented,” he added.
