Grayscale’s chief legal officer Craig Salm said on Jan. 12 that he does not expect the recent spate of events in the crypto space to impact its case against the SEC.

According to him, the lawsuit is about “determinations on questions of law.” He added that despite the SEC’s reluctance and perceptions of the crypto industry, “this is a legal case about fair and equal treatment under the law.”

Salm said:“[Recent] events and speculation surrounding Terra/LUNA, 3AC, Celsius, Voyager, FTX, Alameda, BlockFi, Genesis Capital, Gemini, DCG, or anyone else are not relevant to the ultimate question the Court will have to answer.”

He said the case is to determine if the SEC acted arbitrarily and capriciously and discriminated against issuers in denying GBTC conversion to a spot ETF. At the same time, it had approved ETFs that hold futures.

(By Oluwapelumi Adejumo)