The digital currency ecosystem was riled by the false update from Matrixport that the United States Securities and Exchange Commission (SEC) is likely to deny all spot Bitcoin ETF applications in contrary to popular beliefs this month. Should the market regulator choose to deny these applications, top crypto lawyer MetaLawMan has predicted the legal implications that will follow.
Spot Bitcoin ETF Denial Might Spark New Wave of Lawsuits
Known for his insights into crucial lawsuits in the industry, MetaLawMan said if the SEC risks denying the spot Bitcoin ETF applications from the likes of BlackRock, Grayscale Investments, and Ark 21Shares amongst others, it will likely get sued by the horde.
If the lawsuits are filed, MetaLawMan predicts that the D.C. Court of Appeals would again rule that the SEC was “arbitrary and…
