The US Securities and Exchange Commission (SEC) is seeking information from Grayscale Investments on three crypto trusts.
Grayscale mentioned in the June filings that he was in contact with SEC personnel. However, at the time, the regulator did not provide guidance on whether cryptocurrencies are securities, he said. Discussions between the SEC and the company on this issue are still ongoing.
Grayscale Trusts in Process to Respond to SEC
Crypto asset manager Grayscale Investments revealed that it is in the process of answering the SEC’s questions about the three cryptocurrency trusts. The SEC review focuses on Grayscale’s securities law analysis of Stellar Lumens (XLM), Zcash (ZEC) and Horizen (ZEN) trusts.
Grayscale said they contacted staff from the SEC’s Corporate Finance and Enforcement Divisions regarding ZEC’s analysis of securities law, adding that they are in the process of responding. The same statement appeared in the filings of the XLM and ZEN trusts.
Grayscale also said that it acknowledges that asset types may be a security now, in the future, may be considered a security by the SEC or a federal court.
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