Donald Beaton Verrilli Jr. has joined the digital asset manager Grayscale Investments team as a legal advisor. This was announced by Jennifer Rosenthal, Vice President of Corporate Communications.

today, @grayscale We announced that we have hired Donald B. Verrilli, Jr., former Attorney General under the Obama Administration, as additional legal counsel.

— Jennifer Rosenthal (@jenn_rosenthal) June 7, 2022

From 2011 to 2016, Verrilli Jr. Attorney General Under the administration of Barack Obama. Prior to that, he served as Assistant Attorney General in the US Department of Justice.

Vice President stresses Grayscale Investments’ ‘unwavering commitment’ to transformation GBTC the first cryptocurrency-based exchange-traded fund. According to him, the invited expert “has a comprehensive, well-rounded understanding of government regulation and the US legal system.”

Grayscale filed an application to convert a bitcoin trust into an ETF in October 2021. In February 2022, the US Securities and Exchange Commission (SEC) delayed its decision to July 6.

At the end of March, the company’s president, Michael Sonnenschein, announced that he was ready to sue the regulator in case of refusal.

Earlier, SEC chairman Gary Gensler stated that for possible approval of the first cryptocurrency-backed exchange-traded funds, its core assets should be bitcoin futures. CME.

He also talked about filing under the Investment Companies Act 1940. Later, the regulator allowed trading in Bitcoin ETF futures from VanEck, Valkyrie Investments, and ProShares.

In early April, the SEC approved a product from Teucrium. It complies with the provisions of the Securities and Exchange Act of 1934, in the same manner as the statement from Grayscale.

Recall that in April, Grayscale urged the SEC to convert the bitcoin trust into an ETF after it approved the application from Teucrium.