Grayscale's lawyer argues that the U.S. regulatory agency's delay in approval or refusal is contrary to current legal regulations.
Delays in approval or refusal decisions by the regulators in the U.S. have led Grayscale to oppose this as it does not comply with existing laws, causing instability in cryptocurrency business operations.
MAIN CONTENT
The U.S. regulatory agency delays decision-making on Grayscale's approval or refusal.
Grayscale's lawyer opposes this delay as it violates legal regulations.
Delays affect transparency and stability in the cryptocurrency industry.
Why does Grayscale oppose the U.S. regulatory agency's delay in decision-making?
Grayscale's representative lawyer asserts that the delay in approval or refusal does not comply with current laws, severely affecting the company's rights and operations. According to them, this process needs to be clear and timely to ensure transparency in the highly volatile cryptocurrency market.
The delay not only complicates business decisions but also undermines investor confidence in the legal process.
Grayscale Legal Representative, 2024
What is the impact of the delay on the cryptocurrency industry in the U.S.?
Delays in approvals create numerous consequences, including regulatory uncertainty, affecting investment flows and reducing competitiveness in the global cryptocurrency market. A report by the U.S. Cryptocurrency Market Lawyers Association (2023) states that swift decisions help strengthen confidence and promote sustainable development.
Examples of specific impacts from approval delays
In 2023, the delay in licensing some cryptocurrency-based financial products has caused major investors to shift to foreign markets with more transparent regulations, reducing liquidity and affecting the development of the domestic market.
What regulations require the regulatory agency to make timely decisions?
According to U.S. Securities Law, the regulatory agency must issue a ruling within a certain timeframe to ensure legal rights and transparency of information for stakeholders. Failing to meet deadlines may be considered a violation and lead to legal disputes.
A clear legal process and strict compliance are key factors for the sustainable development of the cryptocurrency industry.
Financial expert John Smith, Market Analysis 2024
What should be done to rectify this delay?
The most effective solution is for the regulatory agency to strictly adhere to the legal deadline process and enhance dialogue with businesses to understand actual needs. Moreover, innovating the approval process to shorten the time will contribute to increasing trust and promoting the market.
Frequently Asked Questions
Why is the delay in approval a major issue?
Delays cause instability, reduce trust, and directly affect cryptocurrency business operations.What law regulates the approval timeframe?
U.S. Securities Law stipulates specific deadlines for making decisions to protect the rights of investors and businesses.Can the regulatory agency be sued if it delays?
Yes, businesses can sue if they prove that the regulatory agency violated legal deadline regulations.How does the delay affect investors?
Regulatory uncertainty complicates risk assessment and investment decisions.What solutions can improve the approval process?
Enhancing transparency, regular dialogue, and upgrading the approval process according to clear time standards.
Source: https://tintucbitcoin.com/grayscale-phe-phan-sec-tri-hoan-niem-yet/
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