SEC Considers Filecoin a Security

Grayscale Investments said that Securities and Exchange Commission staff believe Filecoin meets its definition of a security.
 SEC Considers Filecoin a Security
READING NOW SEC Considers Filecoin a Security

Grayscale Investments said that Securities and Exchange Commission staff believe Filecoin meets its definition of a security.

The Securities and Exchange Commission (SEC) has considered Filecoin a security. However, the SEC has requested that Grayscale withdraw its notice of registration for the Filecoin Trust.

Filecoin Attitude Notable From SEC

The Securities and Exchange Commission replied in a comment letter to Grayscale Investments that Filecoin “believes that it meets the definition of a security under federal securities laws.”

Grayscale used the following statements in his statement:

“Grayscale has received a letter of comment from SEC personnel stating the view that the trust’s core asset, the FIL, meets the definition of a security under federal securities laws.”

The SEC also requested that Grayscale’s notice of registration for Filecoin Trust be withdrawn.

The views of staff at the SEC do not reflect the commission’s official stance. Commissioners vote on sanctions actions based on recommendations provided by staff.

In addition to his explanation, Grayscale wrote:

“Grayscale does not believe the FIL is a security under federal securities laws and plans to respond promptly to SEC personnel with a description of the legal basis for Grayscale’s position. Grayscale cannot predict whether SEC staff will be convinced that Grayscale’s position is correct.”

Comments
Leave a Comment

Details
134 read
okunma57149
0 comments