SEC’s enforcement actions have stalled the advancement of Bitcoin in the United States and are pushing American investors offshore, argues Grayscale CEO Michael Sonnenshein in an op-ed.
The inaction by the regulator to stop such bad actors from entering the crypto industry “prevented Bitcoin's advancement into the U.S. regulatory perimeter” according to Sonnenshein.
This has thus forced American investors to offshore crypto businesses “with less protection and oversight," he said. “We are seeing the consequences of the SEC’s priorities play out in real-time — at the expense of U.S. investors.” Sonnenshein’s opinion piece comes amid an ongoing lawsuit between Grayscale and the SEC for having “arbitrarily denied” Grayscale’s
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