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SEC's Crypto Unit Chief Discusses Enforcement Tactics and Possibility of Spot Bitcoin ETF Approval; Grayscale Investments Files Lawsuit Against SEC Over Bitcoin Trust Conversion

June 15 (Cointime) - David Hirsch, the head of the SEC's crypto unit, spoke at a conference about the SEC's latest crypto enforcement tactics. He mentioned the Howey test and clarified that the SEC is not trying to push the industry out of the US. Hirsch stated that he was expressing his own views, not necessarily those of the regulator, and pushed back on the idea of "regulation by enforcement".

Grayscale Investments has filed a lawsuit against the SEC for blocking the conversion of its Bitcoin Trust to an ETF, arguing that the regulator allowed other bitcoin futures ETFs to be approved. The SEC's reasoning is that there is not enough surveillance for spot bitcoin ETFs. A decision on the case is expected soon.

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