Grayscale CEO Michael Sonnenshein warns that the SEC constantly resorting to enforcement action against the crypto industry could lead to “squashing the innovation” in the United States.
Financial Services Committee approved the Financial Innovation and Technology for the 21st Century Act with a 35-15 vote.
While Sonnenshein is confident in Congress' direction, he believes that the SEC should shift its focus concerning Bitcoin exchange-traded funds . “When I think about the process that the SEC should be untaking here, it’s really not to pick winners and losers, it is to ensure that all the right disclosures are put out there for investors.”on the outcome of the spot Bitcoin ETF proposed by ARK Investment Management.
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