Yesterday the ruling on Greyscale V SEC came out and like always in crypto the moon boys believed that BTC will reach 100K that the bull cycle has begun and all that moon nonsense that circulating in twitter, but all that helped BTC to pump 7% .
The Story of Grayscale V SEC
source
A while back the SEC rejected Grayscales application to convert the GBTC fund into a SPOT Bitcoin ETF.
Grayscale then sued the Sec
The case went to the courts
Yesterday Grayscale WON
What’s next?
So I’ve already seen a lot of posts and articles saying ‘’we now have a spot bitcoin ETF’’ but this isn’t correct just yet as the sec have 45 days to appeal
If the Sec doesn’t appeal in that time then the court forces the sec to revisit the application and it could still be rejected at this point.
The good news is I think the chances of further ETF rejection have now lowered and this should send a message to the sec to stop being so fucking annoying haha. We have some first round deadlines for the sec this week so FINGERS CROSSED GUYS!
Of course with Gary at the head of SEC anything is possible but yesterday also some senators started talking about the firing of Gary because he lost one more case.
In what seems to be a continuing saga of legal battles leading to the constant defeat of the United States Securities and Exchange Commission (SEC), U.S. Representative Warren Davidson has once again strengthened his efforts in removing Gary Gensler from his position as the Chair of the SEC. Davidson believes that Gensler’s action on the current regulations surrounding cryptocurrency is uncalled for and biased.