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A federal judge ruled Tuesday that the Securities and Exchange Commission must reconsider crypto asset manager Grayscale Investments’ application to launch the first bitcoin exchange-traded fund, dealing a loss to the regulator. Coinbase Global, the largest publicly traded crypto exchange, rose 14%, and bitcoin futures rose 6%.
"A federal appeals court ruled Tuesday that the Securities and Exchange Commission must reconsider the crypto asset manager Grayscale Investments’ application to launch the first bitcoin exchange-traded fund, the latest setback for SEC Chair Gary Gensler’s efforts to regulate the upstart industry."
https://www.wsj.com/finance/regulation/grayscale-wins-lawsuit-against-sec-over-bitcoin-etf-1b305cfa
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