Yahoo TV

Crypto executives met with lawmakers on Capitol Hill on Thursday in a bid to create new rules of the road for crypto. Grayscale CEO Michael Sonnenshein was in those meetings and spoke with Yahoo Finance's Jennifer Schonberger about how they went. Sonnenshein says he was "encouraged" by the meetings, adding that there's a "ton of optimism." There have been some efforts to pass crypto legislation, including a bill from Senators Lummis and and Gillibrand, of which Sonnenshein says "having this type of momentum around these bills and the frameworks that they provide, these are the types of engagement that we're seeing from members... we've never seen before." 

On the ongoing legal fight over Grayscale's bid to convert its Grayscale Bitcoin Trust (GBTC) to an ETF, Sonnenshein says that right now, the company has to be patient, given that the Securities and Exchange Commission has 45 days to review and appeal the judge's ruling.