Grayscale’s Legal Battle Against the SEC

<p><em><span style="font-weight: 400;">This episode is sponsored by</span></em> <a href= "https://nexo.io/get-started?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_jun22"> <em><span style= "font-weight: 400;">Nexo.io</span></em></a><em><span style= "font-weight: 400;">,</span></em> <a href= "https://near.org/?utm_source=Breakdown%20Podcast&utm_medium=Podcast"> <em><span style="font-weight: 400;">NEAR</span></em></a> <em><span style="font-weight: 400;">and</span></em> <a href= "https://ftxusapp.onelink.me/LKX9/breakdown"><em><span style= "font-weight: 400;">FTX US</span></em></a><em><span style= "font-weight: 400;">.</span></em><span style= "font-weight: 400;"> </span></p> <p> </p> <p><span style="font-weight: 400;">Late Wednesday, the U.S. Securities and Exchange Commission rejected Grayscale’s proposal to convert the Grayscale Bitcoin Trust to a spot bitcoin exchange-traded fund (ETF). Within minutes, Grayscale, a CoinDesk sister company, had filed suit against the SEC about that decision. In this episode, NLW explains why the crypto community is in broad agreement with Grayscale about the inconsistencies in how the SEC approves or rejects bitcoin-related products. (Disclosure: Grayscale is owned by CoinDesk parent Digital Currency Group.) </span></p> <p><em><span style="font-weight: 400;">-</span></em></p> <p><a href= "https://nexo.io/get-started?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_jun22"> <strong><em>Nexo</em></strong></a> <em><span style= "font-weight: 400;">is an all-in-one platform where you can buy crypto with a bank card and earn up to 16% interest on your assets. On the platform you can also swap 300+ market pairs and borrow against your crypto from 0% APR. Sign up at</span></em> <a href= "https://nexo.io/get-started?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_jun22"> <em><span style="font-weight: 400;">nexo.io</span></em></a> <em><span style="font-weight: 400;">by June 30 and receive up to $150 in BTC.</span></em></p> <p><em><spa