SEC Suffered a Defeat: $BU$ Crypto $PARA$ His Case Might Be Impacted!

US Securities and Exchange Commission (SEC), $POP$ direct competition with advanced VIX futures $EDEN$ SPIKES, a volatility index product, suffered a major setback in its efforts to regulate its futures. This situation is expected to affect a crypto money lawsuit as well. Here are the details…
Court defeat for SEC
The U.S. Court of Appeals overturned the SEC's decision to grant an exemption to MIAX, the exchange that offers SPIKES futures. The court ruled that the SEC's decision was "arbitrary and capricious" and lacked adequate explanation. The SEC had argued that the exemption was necessary to encourage competition in the volatility index market currently dominated by Cboe's VIX futures. But how does the SEC's exemption achieve its intended purpose? $ACA$ that you can't show $BEL$ it's early $ARG$ ü $MANA$ did not attend.
The court also noted that the SEC did not address some of the potential disadvantages of the exemption that could give an unfair advantage over VIX futures, such as potentially more favorable tax treatment and lower deposit requirements for SPIKES futures. This decision is also due to the legal battle between Grayscale, a cryptocurrency company, and the SEC over $BITCOIN$ ETFs. $NEM$ carrying. Specifically, the SEC's SPIKES futures $KAR$ It is worth noting that two of the three judges in the case where he lost his wife are also part of the panel responsible for deciding the outcome of the Grayscale case.
Critical decisions for the cryptocurrency company
Meanwhile, Grayscale recently submitted a comment letter to the SEC on spot Bitcoin ETF applications, including its own Grayscale Bitcoin Trust (GBTC) application. The company argued that given that it has previously approved Bitcoin futures ETFs, the SEC already has sufficient reason and authority to approve spot Bitcoin ETFs. Grayscale firmly stated that the spot Bitcoin ETF application should be approved on equal terms with other Bitcoin ETF applications. The company also stressed that investors should be treated fairly when deciding on the SEC's application for an ETF, whether independently or due to a court order.
Grayscale categorically stated that the spot Bitcoin ETF application deserves approval if the SEC is ready to approve other Bitcoin ETF applications. SPIKES futures regulation $GEL$ More on transactions and the ongoing Grayscale lawsuit, volatility index products and cryptocurrency-related ETFs. $GEN$ can have business implications. However, the results of these cases are still pending and Grayscale's decision is expected after September. As we have also announced as Kriptokoin.com, it is thought that the US SEC may be in a difficult spot forcing the Grayscale application to be approved.
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