Company: BTC
Filing Date: 2025-04-01
Form Type: POS AM
Source: 0001193125-25-070549
Chunk: 145

Company: Grayscale Bitcoin Mini Trust ETF
Filing Date: 2025-04-01
Form: POS AM
Chunk 145
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 China has banned initial coin offerings and there have been reports that Chinese regulators have taken action to shut down a number of China-based Digital Asset Trading Platforms. |

| • |     | South Korea determined to amend its Financial Information Act in March 2020 to require virtual asset service                                                                                                                                           
 providers to register and comply with its AML and counter-terrorism funding framework. These measures also provide the government with the authority to close Digital Asset Trading Platforms that do not comply with specified processes. South Korea 
 has also banned initial coin offerings.                                                                                                                                                                                                                |

| • |     | The Reserve Bank of India in April 2018 banned the entities it regulates from providing services to any                                                                                                                
 individuals or business entities dealing with or settling digital assets. In March 2020, this ban was overturned in the Indian Supreme Court, although the Reserve Bank of India is currently challenging this ruling. |

| • |     | The United Kingdom’s Financial Conduct Authority published final rules in October 2020 banning the sale of                                                                                                                            
 derivatives and exchange-traded notes that reference certain types of digital assets, contending that they are “ill-suited” to retail investors citing extreme volatility, valuation challenges and                                   
 association with financial crime. A new law, the Financial Services and Markets Act 2023 (“FSMA”), received royal assent in June 2023. The FSMA brings digital asset activities within the scope of existing laws governing financial 
 institutions, markets and assets.                                                                                                                                                                                                     |

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| • |     | The Parliament of the European Union approved the text of the Markets in Crypto-Assets Regulation                                                                                                                                                   
 (“MiCA”) in April 2023, establishing a regulatory framework for digital asset services across the European Union. MiCA is intended to serve as a comprehensive regulation of digital asset markets and imposes various obligations on digital       
 asset issuers and service providers. The main aims of MiCA are industry regulation, consumer protection, prevention of market abuse and upholding the integrity of digital asset markets. MiCA was formally approved by the European Union’s member 
 states in 2023. Certain parts of MiCA became effective as of June 2024 and the remainder applied as of December 2024.                                                                                                                               |

There remains significant uncertainty regarding foreign governments’ future actions with respect to the regulation of digital assets and Digital Asset Trading Platforms. Such laws, regulations or directives may conflict with those of the United States and may negatively impact the acceptance of Bitcoin by users, merchants and service providers outside the United States and may therefore impede the growth or sustainability of