{"id":21713,"date":"2023-08-30T12:45:13","date_gmt":"2023-08-30T12:45:13","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/nft\/grayscale-wins-sec-lawsuit-court-cites-lack-of-coherent-explanation\/"},"modified":"2023-08-30T12:45:18","modified_gmt":"2023-08-30T12:45:18","slug":"grayscale-wins-sec-lawsuit-court-cites-lack-of-coherent-explanation","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/nft\/grayscale-wins-sec-lawsuit-court-cites-lack-of-coherent-explanation\/","title":{"rendered":"Grayscale Wins SEC Lawsuit, Court Cites \u2018Lack of Coherent Explanation\u2019"},"content":{"rendered":"
Grayscale Bitcoin Trust (GBTC), a prominent crypto asset manager, achieved a significant legal victory on August 29 against the United States Securities and Exchange Commission (SEC) in its long-winded pursuit of transforming its over-the-counter GBTC application into a listed Bitcoin ETF.<\/p>\n
Recent court documents from August 29 revealed that the U.S. Court of Appeals Circuit Judge Neomi Rao has granted Grayscale\u2019s request for review and ordered the SEC\u2019s denial of the GBTC listing application to be nullified.\u00a0<\/p>\n
Judge Rao had previously criticized the SEC for lacking an explanation for its stance against Grayscale \u2013 something that continues to plague investors and the overall finance sector as part of the SEC\u2019s futile \u201cregulation by enforcement\u201d approach.<\/p>\n
Grayscale Investments CEO, Michael Sonnenshein, took to Twitter to announce that their legal team is actively assessing the court\u2019s opinion.<\/p>\n