The founder of Messari called the SEC position on the Sports Bitcoin-ETF fraud

The founder of Messari Ryan Selkis criticized the SEC for refusing to convert the Grayscale Investments bitcoin traffic to the Fund traded on the Exchange (ETF).

According to him, last year, attackers deprived users of $ 1 billion. Selkis noted that the refusal of the commission to transform GBTC into a spot Bitcoin-ETF is a fraud that has turned into much greater damage-$ 7 billion.

$ 1BN WAS LOST to Crypto Fraud Last Year.

$ 7BN HAS Been Lost to the Sec’s Fraud in Failing to Approve a Spot etf https://gagarin.news/ at the Expense of Grayscale [email protected] doesnt Care ABOUT Protecting Investors, Promoting Capital Formation, Or Making Markets Fair. He Cares ABOUT POWER.

– Ryan Selkis 🥷 (@twobitidiot) August 30, 2022

“[SEC chairman] Gary Gensler does not care about protecting investors, promoting capital or ensuring justice in the markets. He cares about power, ”wrote the founder of Messari.

Grayscale Investments submitted documents for converting a digital gold to a spot-bitcoin -etf in October 2021.

On December 17, the SEC postponed the adoption of the decision on the application, and in February 2022 it took this step again. On June 30, the company sued the regulator after the final deviation of its application.

Earlier, Grayscale indicated that the readiness of the SEC approves Bitcoin-ETF based on futures with deviations on the basis of its spawning option may violate the law on administrative procedures.

Criticism in relation to the regulator was supported by the founder of the law firm Deaton Law Firm John Dyton, representing the interests of XRP holders in the SEC against Ripple. According to him, the claim of the commission turned into a $ 15 billion loss for tokens owners.

And $15B was lost because the SEC intentionally chose not limit the allegations against Ripple to specific sales made by Ripple and its executives but instead alleged all XRP including secondary market sales of XRP are unregistered securities. https: // t.CO/O3GGANTAOM

– John E Deaton (213k Followers Beware Imposters) (@Johnedeaton1) August 30, 2022

In August, Forbes journalist Roslyn Leighton published a material in which she doubted the SEC objective approach to supervision of crypto industry.

“[…] The actions of the securities and exchanges commission on“ forced regulation ”are a kind of manipulation through arbitrary and capricious decisions and the lack of a process and rules,” the article says.

According to Leighton, SEC prefers to charge fines, and not to regulate.

Recall, the editorial office of Wall Street Journal accused the head of the department of “confusing” the approach regarding the adoption of a spotcin-bitcoin -etf.

The commission was also condemned by billionaire Mark Kyuban and a member of the House of US Representatives Tom Emmer. According to the latter, Hensler chose the tactics of bullying and threats in relation to the crypto industry.

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