Using courts for every crypto issue will squash innovation: Grayscale CEO
Grayscale CEO Michael Sonnenshein emphasized the need for a balanced regulatory approach to cryptocurrency to avoid hindering innovation in the United States. Grayscale Investments CEO, Michael Sonnenshein, highlighted a potential negative outcome for the United States economy if the Securities and Exchange Commission (SEC) continues to take a one-by-one approach to regulating the cryptocurrency industry. During a recent interview with Fox Business, Sonnenshein expressed that the SEC could drive crypto firms out of the country by constantly resorting to enforcement actions against the industry. “If every crypto issued needs to go to a court of law, then as a country we are squashing the innovation taking place here,” Sonnenshein stated. Grayscale CEO Michael Sonnenshein on Fox Business 'The Claman Countdown'. Source: Fox Business Likewise, Ripple CEO Brad Garlinghouse echoed similar comments prior to the partial victory of Ripple, which was decided on July 13. On June 1...