News Explorer — SEC Believes Filecoin Is a Security, Grayscale Warns Investors

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May 17, 8:58 pm

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SEC Believes Filecoin Is a Security, Grayscale Warns Investors

The U.S. Securities and Exchange Commission has determined that Filecoin's FIL token qualifies as a security, according to Grayscale Investments. Grayscale had applied to the SEC to launch a Filecoin Trust product, but the SEC has requested that the application be withdrawn. Grayscale intends to respond to the SEC with an explanation of their position. FIL has dropped in value following the announcement. The SEC has been actively pursuing digital asset companies for selling unregistered securities.

The U.S. Securities and Exchange Commission has determined that Filecoin's FIL token qualifies as a security, according to Grayscale Investments. Grayscale had applied to the SEC to launch a Filecoin Trust product, but the SEC has requested that the application be withdrawn. Grayscale intends to respond to the SEC with an explanation of their position. FIL has dropped in value following the announcement. The SEC has been actively pursuing digital asset companies for selling unregistered securities.

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