Bitcoin opened trading on January 24 at $22,910 and it's currently trading at $22,895.00, up 0.40% in the last 24 hours. BTC/USD has ranged between a high of $23,154.00 and a low of $22,770.Furthermore, its value has risen by more than 8% in the last week.Grayscale Investments CEO Michael Sonnenshein published a letter in The Wall Street Journal on January 23.
The approach of the United States Securities and Exchange Commission (SEC) to crypto regulatory compliance, according to the CEO of a crypto asset management company, has slowed the growth of Bitcoin in the country.
He agreed that the SEC was "late to the game" when it came to regulating cryptocurrencies and mitigating FTX's bankruptcy. Grayscale is now suing the SEC for refusing to convert their Bitcoin trust to a spot-based exchange-traded fund (ETF).
Michael stated unequivocally that, while the SEC should undoubtedly strive to eliminate unethical actors, it should not obstruct efforts to enact appropriate legislation.Read more on cryptonews.com