SkyBridge Capital Founder Says U.S. SEC ‘Now Stands for Stop Economic Creativity’ - Aliens: AI Crypto News & Markets Updates
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SkyBridge Capital Founder Says U.S. SEC ‘Now Stands for Stop Economic Creativity’

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CryptoGlobe

Thu, Jun 30, 2022

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On Thursday (June 30), former White House Director of Communications Anthony Scaramucci shared his thoughts on the disapproval by the U.S. SEC of Grayscale Investments’ proposal for its Grayscale Bitcoin Trust (GBTC) to be converted into a spot Bitcoin ETF.

As CoinDesk reported earlier today, yesterday (June 29) the Securities and Exchange Commission (SEC) rejected Grayscale Investments’ spot Bitcoin ETF proposal, a decision that did not surprise Grayscale Investments (a subsidiary of Digital Currency Group), which immediately filed a petition for review of this decision in the U.S. Court of Appeals for the District of Columbia Circuit.

“Last night, after receiving the SEC decision, our attorneys almost immediately filed a petition for review with the appellate court in DC.

And that starts the litigation process, contesting the SEC’s decision, which we, of course, vehemently disagree with.“ He later added: “We laid out these arguments throughout the last couple of months leading up to this decision, really looking at the fact that the SEC is acting arbitrary and capricious by continuing to approve Bitcoin futures base ETFs, while continuing to deny spot Bitcoin ETFs.

They’re actually discriminating against issuers like Grayscale, who are trying to bring a product further into the US regulatory perimeter here.“ Shortly later, Scaramucci, who is the founder and managing partner of global alternative investment firm SkyBridge Capital , gave an interview to CNBC’s “Squawk Box”, where he had this to say to co-anchor Andrew Ross Sorkin about the SEC’s continual refusal to approve any spot Bitcoin ETF proposals: “It’s a missed opportunity for the country.

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