{"id":602303,"date":"2023-01-28T19:49:03","date_gmt":"2023-01-29T01:49:03","guid":{"rendered":"https:\/\/news.sellorbuyhomefast.com\/index.php\/2023\/01\/28\/lawyer-predicts-grayscales-win-against-the-sec-in-supreme-court\/"},"modified":"2023-01-28T19:49:03","modified_gmt":"2023-01-29T01:49:03","slug":"lawyer-predicts-grayscales-win-against-the-sec-in-supreme-court","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2023\/01\/28\/lawyer-predicts-grayscales-win-against-the-sec-in-supreme-court\/","title":{"rendered":"Lawyer Predicts Grayscale\u2019s Win Against The SEC In Supreme Court"},"content":{"rendered":"
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\"Grayscale<\/figure>\n<\/div>\n
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Grayscale Investments, a crypto asset management company, is preparing for a prolonged legal battle with the Securities and Exchange Commission over the creation of a spot bitcoin exchange-traded fund.<\/p>\n

The SEC rejected Grayscale\u2019s application to convert its flagship Grayscale Bitcoin Trust (GBTC.PK) (GBTC) into an ETF in June, claiming that the proposal did not adhere to guidelines intended to safeguard investors and prevent fraudulent conduct.<\/p>\n

The SEC was accused of acting arbitrarily by Grayscale in denying applications for spot bitcoin ETFs while earlier approving applications for bitcoin futures ETFs. Grayscale filed suit against the SEC almost immediately after their proposal was rejected. The case is being handled by the District of Columbia Court of Appeals.<\/p>\n

John Deaton\u2019s take on the lawsuit<\/strong><\/h2>\n

John Deaton, the founder of CryptoLaw has been very active in updating the community about the Ripple vs SEC lawsuit. He has also been updating about the tussle between Grayscale and SEC.\u00a0<\/p>\n

X3 founder Andrew in a recent tweet has updated in a recent tweet that there is a possibility that the Grayscale and Bitcoin case makes its way to the Supreme Court here in the US. The brief is in front of the DC Circuit and he believes that a win is possible.<\/p>\n

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UPDATE: There is a possibility that the @Grayscale<\/a> $GBTC<\/a> and spot #Bitcoin<\/a> ETF case makes it\u2019s way to the Supreme Court here in the US. <\/p>\n

**sharp legal sources are impressed with the @Grayscale<\/a> brief in front of the DC Circuit and believe a win is possible.<\/p>\n<\/div>\n

\u2014 Andrew (@AP_Abacus) January 26, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

In reply to this, Deaton has explained that a win is more than possible. He has mentioned that the odds of Grayscale winning before the DC Circuit is at 50\/50 and before the Supreme Court is at 75-80%. Further, he has mentioned that the SECGov\u2019s denial of a spot BTC, ETF while allowing both a futures ETF and a short ETF is arbitrary and capricious.\u00a0<\/p>\n

It appears that Deaton firms believe in Grayscale\u2019s win against the SEC.\u00a0<\/p>\n

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A win is more than possible. I put the odds of a @Grayscale<\/a> win before the DC Circuit at 50\/50 and a win before the Supreme Court at 75-80%. Under the law, the @SECGov<\/a>\u2019s denial of a spot #BTC<\/a> ETF while allowing both a futures ETF and short ETF is arbitrary and capricious. https:\/\/t.co\/22iKnNdhsB<\/a><\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) January 26, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

Further, in a follow-up tweet, Deaton explained that after the Supreme Court\u2019s decision in West Virginia vs EPA, he has no doubt that the current makeup of the U.S. The Supreme Court will rule in favor of Ripple if it goes that far. The SEC did not limit its allegations to only apply to Ripple\u2019s sales of XRP but went too far with it.\u00a0<\/p>\n

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And after the Supreme Court\u2019s decision in West Virginia ???? EPA, I have zero doubt that the current makeup of the U.S. Supreme Court will rule in favor of @Ripple<\/a> if it goes that far. The SEC did not limit its allegations to only apply to Ripple\u2019s sales of #XRP<\/a>. It went too far.<\/p>\n

\u2014 John E Deaton (@JohnEDeaton1) January 26, 2023<\/a><\/p><\/blockquote><\/div>\n<\/figure>\n

In this case, which concerned the EPA\u2019s authority to control carbon emissions in order to combat climate change, the court\u2019s decision prompted the United States Congress to prohibit the EPA from regulating emissions from plants.<\/p>\n

As a result, there is a parallel to the SEC\u2019s attempt to regulate the crypto area, and winning the case against Ripple is the first step toward establishing control of the nascent sector.\u00a0<\/p>\n<\/div>\n

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Qadir AK<\/a><\/h3>\n

Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.<\/p>\n<\/div>\n<\/div>\n<\/div>\n

Read More<\/a>
\n Qadir AK<\/p>\n","protected":false},"excerpt":{"rendered":"

Grayscale Investments, a crypto asset management company, is preparing for a prolonged legal battle with the Securities and Exchange Commission over the creation of a spot bitcoin exchange-traded fund.The SEC rejected Grayscale\u2019s application to convert its flagship Grayscale Bitcoin Trust (GBTC.PK) (GBTC) into an ETF in June, claiming that the proposal did not adhere to<\/p>\n","protected":false},"author":1,"featured_media":602304,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1062,24352],"tags":[],"class_list":["post-602303","post","type-post","status-publish","format-standard","has-post-thumbnail","category-lawyer","category-predicts"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/602303","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=602303"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/602303\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/602304"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=602303"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=602303"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=602303"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}